Finance Committee approves tax on “superprofits” of big businesses

LFI deputies and their left-wing allies had a tax on the “superprofits” of large companies approved in the Finance Committee on Friday, a “victory” which they believe could bring in 15 billion euros. This “exceptional contribution”, which would apply to companies with a turnover of more than 750 million euros, aims according to the Insoumis elected officials to “make crisis profiteers contribute to national solidarity”, who have “enriched themselves indecently” during the health and then energy crises.

In detail, the share of the company’s profits exceeding 1.25 times the average annual profits made over the period 2017-2019 (i.e. before the Covid crisis) will be considered as a “superprofit”. Additional taxation will be calculated on these “excess” profits, with three brackets imposed at 20%, 25% and 33%. “Gas groups which make more than 10 billion euros in profits in the first half of the year” must “make their contribution to the collective effort”, argued environmentalist Eva Sas. “If you want all our companies to leave the territory, you are right: this is the way to go about it!” replied Véronique Louwagie (LR). The RN, whose elected officials found the idea “interesting”, abstained.

This amendment will, however, be submitted to a new vote next week, when the “revenue” part of the 2025 state budget will be examined in the hemicycle, where elected officials will start from the original version of the project presented by the government.

Several changes to the research tax credit

The Finance Committee also approved several provisions aimed at reducing the research tax credit (CIR) – tax assistance for businesses introduced during François Hollande’s five-year term, but whose cost is criticized by part of the left in view of its effectiveness in terms of support for growth and employment. An amendment tabled by the PS thus plans to transform this tax credit into a tax reduction for large companies: they would therefore no longer benefit from it in the event of insufficient profit or loss.

Another amendment, tabled this time by the right, aims to deprive finance and insurance companies of CIR, which could generate 1.5 billion euros in savings, out of the 8 billion that costs in total. this tax niche. This tax credit must be “refocused on industrial or agricultural activities” participating in the “productive economy”, argued its author Corentin Le Fur (LR). The general budget rapporteur Charles de Courson (Liot) also passed an amendment to reduce the base eligible for the CIR, with an expected gain of 250 million euros.