French General Tax Code
In forceHolders of income liable to income tax in the category of industrial and commercial profits, agricultural profits or non-commercial profits whose turnover or revenue is below the limits of the schemes defined in articles 50-0,64 bis and 102 ter and who have opted for an actual method of determining income and joined an approved management centre or association benefit from a reduction in the income tax contribution equal to two-thirds of the expenses incurred for bookkeeping and, membership of an approved management centre or association. This reduction, capped at €915 per year, applies to the amount of income tax calculated in accordance with the conditions set out in article 197 and up to the limit of this amount. The provisions of 5 of the I of Article 197 are applicable.
This tax reduction is also maintained for the first year of full application of the normal or simplified actual taxation system for agricultural profits.
