Like every year, the Chamber of Notaries of Reunion and the Regional Council of the Order of Chartered Accountants, have deciphered the new Finance Law for 2022 and its contributions or modifications for individuals and professionals.
For the second year in a row, taking into account the health context, the event took place in digital form and broadcast live on the Facebook pages of the Chamber of Notaries and the Regional Council of the Order of Chartered Accountants of La Réunion. For businesses, tax news is marked by the desire to continue tax relief, simplification of systems and continuing to respond to the effects of the health crisis. First of all, it is the bill in favor of independent professional activity which establishes a single status for the individual enterprise and provides for the separation of assets., people and professionals. It should be noted that the products distributed to the individual entrepreneur – having opted for IS on the result – are subject to social contributions for their fraction exceeding 10% of the entrepreneur's net profit..
Self-liquidation of import VAT
Other measure : from January 1, 2022, import VAT is self-liquidated with the DGFIP and no longer paid to customs. Companies with the simplified VAT regime will now have to prepare monthly or quarterly VAT declarations.. You must make sure you have an intra-community VAT number. There will no longer be any cash advances to be made from importing companies. This is a big novelty for the Reunion area.. Also note the extension of the experimental VAT-based franchise system. The limits of application of the VAT-based exemption had been raised on an experimental basis for a period of five years in Guadeloupe, Martinique and Reunion. The system which was to end in 2022 has been extended until December 31, 2022.
Exemption from capital gains from business transfers
The 2022 Finance Law improves the systems for exempting capital gains from business transfers and transfers of securities held by retiring business leaders. It increases the ceilings of the total exemption system linked to the sale price of a company, from 300,000 to 500,000 euros. It gives the possibility of benefiting from exemptions due to the value of the assets transferred and in the event of retirement.. For companies under rental management, the sale can be granted to a third party and no longer only to the managing tenant. So far, the exemption was only applicable if the transfer was made for the benefit of the tenant.
Tax credit for training business leaders
Companies taxed according to their actual profit can benefit from a tax credit equal to the product of the number of hours spent by the business manager in training (40 hours per year maximum) multiplied by the hourly rate of the minimum growth wage as of December 31. The Finance Law provides for the doubling of the tax credit for managers of very small businesses, within the meaning of European regulations, namely companies which employ less than 10 employees and have an annual turnover or a balance sheet total not exceeding two million euros.
