Among other changes, the legislation:
- Introduces a new limitation on the deductibility of interest on loans obtained from (French or foreign) related parties
- Makes it mandatory to provide cost accounting and consolidated accounts to the French tax authorities during a tax audit
- Requires taxpayers to include rulings from foreign tax authorities in transfer pricing documentation disclosed to the tax authorities.
For more information, contact your KPMG adviser.
Information is current to January 21, 2014. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500