Question 202 — taxes

Summary

Mr. Paul Christophe questions the Minister of Action and Public Accounts on the exemption from tax on capital gains when selling a business. When selling the business, the transferor is likely to realize a capital gain, corresponding to the difference between the transfer price and its original value. According to article 151 septies A of the general tax code, if the transferor carried out a commercial activity, artisanal, liberal or agricultural, as a sole proprietorship, for at least five years, the capital gain is exempt according to the amount of revenue. The revenue concerned means the average revenue excluding tax realized for the closed financial years, if necessary reduced to 12 months, during the 2 calendar years preceding the closing date of the financial year in which the capital gain was realized. This provision has prevailed since Ordinance No. 2013-676 of July 25, 2013 modifying the legal framework for asset management. The sale of a business represents, for traders, craftsmen and liberal professions, the culmination of an entire professional life. It also offers them a significant retirement supplement. Professionals, who are about to retire, therefore want the system to be maintained. So he asks her if the capital gains tax exemption system on the sale of a business will be renewed and guaranteed for the year 2018.

Machine translation from French. The official text remains authoritative.

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