The rectifying finance law for 2022 has been adopted
After heated discussions, MEPs and Senators have reached an agreement on the draft rectifying finance law for 2022. The text, which takes into account certain modifications introduced by the Senate, has been definitively adopted..
- The amended finance law for 2022 has just been voted by the Parliament, on the basis of the text adopted by the joint committee. While the technical tax measures have been maintained as is, the final text includes a few changes or novelties, mainly concerning measures aimed at employers.
Before providing an in-depth commentary at the end of August, we present below the changes in these tax measures. These indications are given subject to the decision of the Constitutional Council, which has just been seized of the text, in particular the measures relating to the monetization of RTT days and the abolition of the contribution to public broadcasting.
Please note: The law on emergency measures to protect purchasing power has also been finally adopted. On this subject, see our News in Social.
Some texts have been adopted without modification
- Several technical texts have been adopted without modification compared to the text voted by the National Assembly and presented in the Fast Factsheet 34/22 inf
- Framework of the deductibility of the depreciation of business assets (art. 7);
- Legalisation of the duration of the condition of exercise of the eligible activity under the Dutreil regime (Art. 8);
- Legalisation of electronic invoicing (Art. 26).
3. Some of the measures aimed at improving the purchasing power of employees were also adopted without modification:
- Raising the exemption ceilings for the employer’s contribution to meal vouchers and for allowances for additional meal expenses (Art. 1);
- Raising the exemption limit in the event of the combination of the sustainable mobility package and the compulsory coverage of public transport costs (Article 3).
4. Finally, the possibility of assessing the travel expenses of volunteers in associations by applying the mileage scale used for employees, in the context of the tax reduction for donations, was adopted without any substantive change (Art. 21).
Several texts have been amended
5. On the other hand, several of the measures aimed at improving the purchasing power of employees have been amended.
With regard to home-work travel expenses for 2022 and 2023, the senators added to the measures initially voted by the deputies, the exemption of the employer’s contribution to the cost of transport passes above 50%, up to a limit of 25% of the cost of these passes (Article 2).
The senators also obtained that the increase to €7,500 of the ceiling for the tax exemption of overtime hours, initially limited to the year 2022, be made permanent (Art. 4).
The possibility given to employees, with the agreement of the employer, to convert into additional pay all or part of the days or half-days of RTT not taken, initially limited to 2022 and 2023, has been extended until 31 December 2025 (Art. 5).
Finally, it should be noted that the admission of carpooling expenses as a deduction of actual expenses was adopted without reference to an implementing decree (Art. 20).
6. The abolition of the contribution to public broadcasting will be effective from 2022. Until 31 December 2024, the financing of public broadcasting will be ensured by the allocation of a fraction of the VAT revenue determined each year in the Finance Act. This transition period was wanted by the senators while waiting for a reform of the sector correlated with an adapted allocation of resources.
Other texts
7. Two new tax texts of minor importance were adopted.
The first corrects a grammatical error in Article 6, 3-3 of the CGI relating to the attachment of a child of full age to the tax home of the taxpayer who has taken him or her in (Article 24).
The second provides for the addition, on tax notices for property tax on built-up areas, of information relating to the financial consequences of the abolition of the housing tax ”taxe d’habitation” on the financing scheme of the municipality (Article 42).
8. Finally, it should be noted that the provisions introduced by the MEPs concerning the situation of “accidental Americans” in the context of the Fatca agreement have not been maintained.
