French General Tax Code
In forceI. - 1. Subject to 2, 3 and 4, the contribution on the value added of businesses is determined on the basis of the turnover achieved and the value added produced during the year in respect of which the assessment is made or during the last twelve-month financial year ended during that same year when that financial year does not coincide with the calendar year.
2. If the financial year ended during the year in respect of which the tax is assessed is more or less than twelve months, the business value added tax is assessed on the basis of the turnover generated and the value added produced during that financial year.
3. If no financial year is closed during the year in respect of which the assessment is made, the contribution on the value added of businesses is established on the basis of the turnover achieved and the value added produced between the first day following the end of the period used to calculate the contribution on the value added of businesses for the previous year and 31 December of the year of assessment. If a company is set up during the tax year, the period used corresponds to the period between the date of creation and 31 December of the tax year.
4. Where several financial years are closed during the same year, the business value added contribution is established on the basis of the turnover achieved and the value added produced during the financial years closed, regardless of their respective durations.
5. In the situations mentioned in 1 to 4, no account is taken of the portion of the closed financial year that relates to a period used to establish the tax due in respect of one or more years prior to the year of taxation.
II. - The amount of turnover determined in accordance with 2, 3 and 4 of I is, for the application of the first paragraph of I of article 1586 ter and for the application of article 1586 quater, corrected to correspond to a full year.
