Targeted at around 450 companies generating more than a billion euros in turnover in France, this tax will take the form of an increase in corporate tax, the rate of which will be reduced by half in 2026 before to disappear.
The financial director of LVMH, Jean-Jacques Guiony, estimated on Thursday that the exceptional contribution requested from large companies in the 2025 draft budget was a “tax on made in France” which “cannot be normal”.
“We are talking about 7 billion (euros) of additional financial contribution from companies. LVMH alone is 700 million so 10%, you add L'Oréal and Hermès, we arrive at 20% and you add Airbus , we arrive at 25%”, declared Jean-Jacques Guiony during a round table at the economic summit organized by Challenges magazine.
“This cannot be normal”
“You have 25% of the total from four companies which all have the characteristic of being exporting companies. So we can qualify this tax increase as a tax on made in France. This cannot be normal,” he said. – he said when he was questioned about the “correctness” of this measure.
“We want to tax wealth but here we tax exports. We don't have that many exporting companies in France, we target those which pay a lot of taxes in France, that is to say those which produce in France, those which create jobs in France,” he said.
“It is certain that the sheep next door is easier to shear than the one next door. The fact remains that the sheep next door is the one that invests in France, creates jobs and pay the taxes,” he concluded.
During the presentation of the LVMH group's results in mid-October, Jean-Jacques Guiony estimated between “700 million and 800 million euros” the cost for the group of the exceptional contribution requested from large companies.
Bernard Arnault's group, which, like the rest of the luxury sector, is experiencing a slowdown in its growth in 2024, achieved a turnover of more than 86 billion euros in 2023.
The Hermès group (13.4 billion euros in turnover in 2023) estimated the impact of its taxation as part of this exceptional contribution at “300 million euros” and L'Oréal (41 billion euros). euros of turnover in 2023), at “a little over 250 million euros”.
