The main provisions introduced by Decree No. 21 of 28 December 2021 establishing the Finance Act for 2022 are as follows:
Corporate tax and personal income tax (IRPP)
- Allowing companies to revalue buildings at their real value (Art. 20)
- Adoption of electronic means for issuing withholding-tax certificates (Art. 41)
- Reinstatement of the deductible withholding tax on income from movable capital (Art. 38)
- Encouraging companies to finance research and development expenditure (Art. 21)
- Granting an additional period to venture-capital investment companies to use the funds made available to them (Art. 23)
- Increase in the deductible amount of interest on savings accounts (Art. 24)
- Measures to improve the audit of flat-rate taxpayers (Art. 51)
VAT, customs duties and local tax (TCL)
- Ending the VAT-suspension purchasing regime for international trading companies and service exporters (Art. 52)
- Authorising fully exporting companies to increase the percentage of local-market sales in 2022 (Art. 25)
- Strengthening the competitiveness of the air-transport sector (Art. 26)
- Controlling the prices of refrigerated agricultural and fishing products (Art. 35)
- VAT exemption on the commissions of wholesale-market intermediaries (Art. 34)
- VAT exemption on commissions for electronic payments (Art. 43)
- Support measures for the Central Pharmacy (Art. 62)
- Revision of customs duties on consumer products with a local equivalent (Art. 57)
- Updating the duty payable on alcohol-sale licences (Art. 59)
- Subjecting retail sales of alcoholic beverages to VAT (Art. 33)
- Updating circulation duties (Art. 55)
- Increase in the depollution-fund tax rate (Art. 32)
- Easing the taxation of electric and hybrid motor vehicles (Art. 30)
- Reducing the taxation of COVID-protection products (Art. 63)
- Raising the compensation-levy rate due by casinos, nightclubs not affiliated with a tourist establishment, and pastry shops (Art. 56)
Registration and stamp duty
- Revision of the registration-duty calculation procedure (Art. 49)
- Simplification of the registration procedures for company incorporation deeds and economic interest groupings (Art. 42)
- Reducing the tax burden on housing built by real estate developers (Art. 27 and 28)
- Updating the fixed registration duty (Art. 53)
- Introduction of a stamp duty on sales receipts in supermarkets (Art. 54)
- Exemption from registration duties for assets acquired by the State (Art. 40)
Investment incentives
- Extension of the maximum period for effective start of activity (Art. 22)
- Encouraging public servants to create businesses (Art. 15)
- Specific early-retirement programme (Art. 14)
Other provisions
- Continuing the rationalisation of cash circulation (Art. 45)
- Creation of a new type of tax audit known as ‘limited audit’ (Art. 47 and 48)
- Improving the digitalisation of administrative services (Art. 44)
- Support for tourist establishments and craft businesses (Art. 61)
- Regularising the tax situation of individuals regarding income from undeclared activities (Art. 66)
- Facilitating the regularisation of individuals’ situations regarding tax and customs debts (Art. 67)
- Setting a ceiling on late-payment penalties due on public debts (Art. 68)
- Measures to facilitate the work of tax-file conciliation committees (Art. 69)
