The National Assembly adopted the reform of the tax system for the supply of goods

A vote in extremis at the Palais-Bourbon

On Friday night, shortly before midnight, the National Assembly has fairly validated a recast of the tax mechanism of "contribution-cession," reports BFM Business. The voting resulted in a short majority of 25 votes against 23 oppositions. The aim of this text is to restrict the possibility for certain wealthy entrepreneurs to permanently exempt themselves from taxation on the gains obtained during the sale of their shares.

Presented by the executive under the tax justice system, however, the initial draft was redrafted by the deputies to preserve family transmissions. Employers had expressed strong concerns about this measure, BFM Business recalls. The Movement of Medium Enterprises (Meti) feared, in particular, a significant increase in the financial burden on transmissions within families.

The mechanism of input-cession at the heart of the discussions

The targeted regime allows a manager to shift the taxation of his or her surplus value by transferring his or her securities to a holding company before the latter proceeds with their sale. In certain circumstances, this taxation can be simply eliminated when the assets are subsequently transferred through the holding company.

According to the information provided by the government and relayed by BFM Business, around EUR 34 billion in capital gains were granted this tax deferral at the end of 2023. Government forecasts were based on a return of EUR 500 million in 2027 as a result of this legislative review. During the discussions, the deputy La France insubmissive Shehérazade Bentorki described the measure as a step going "a little in the right direction", saying moreover that two thirds of the 34 billion euros identified were concentrated in the hands of 84 of the most affluent tax households.

Accommodation for estates

After confusion, national representation chose to reduce the scope of the government mechanism. MEPs voted for an amendment tabled by the rapporteur-general for the budget, Philippe Juvin (LR). This amendment restricts taxation to certain donations and completely removes the successions from the new scale.

In its agreed version, the text specifically targets resold securities within eight years of their contribution to the holding, incorporating reinvestment criteria. At the same time, taxpayers will be able to benefit from a 10-year tax settlement. However, a sub-amendment defended by the elected ecologist Eva Sas reintroduced the application of the reform to past montages, for donations that took place on 1 October 2026. As a result, entrepreneurs who used this scheme several years ago will be subject to tax if they now transfer their assets by donation.

Long tensions in the Chamber and duressed timetable

Nocturnal debates have been strongly criticized in the parliamentary ranks. Guillaume Kasbarian (EPR) denounced a "tripatoulage", while Gérault Verny (UDR) regretted that such a subject was discussed on a Friday at 11 p.m. and considered a retroactivity on 1 October before the final adoption of the budget. For his part, Minister of Public Accounts David Amiel reiterated that the text should be reworked along the way with the Senate.

The continuation of the budget discussion remains dependent on a particularly tight timetable, BFM Business points out. At the end of the meeting, more than 2,800 amendments remained pending consideration on the revenue side, the overall vote of which was scheduled for the following Tuesday. While the work began on Tuesday in a heavy political and economic climate, the transmission of the budget copy to the upper chamber must theoretically occur no later than 17 November 2026.