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European Commission Approves French State Aid Regime for Overseas Investments

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July 16, 2021, 5:00 AM

The European Commission (EC) July 13 issued Daily News No. MEX/21/3685, approving the extension of the French state aid regime for overseas investments. The regime includes measures to: 1) extend until Dec. 31, 2027, the corporate income tax exemption for taxpayers investing capital in overseas projects; 2) set an estimated annual budget of 540 million euros (US$637 million) for the tax exemption measure; and 3) provide overseas tax assistance for the promotion of productive investments. The EC found the regime to be compatible with Art. 107(3)(c) of the Treaty on the Functioning of the European Union (TFEU) and the conditions …