Tax Credit for Certain Investments Made and Operated in Corsica
Tax credit for certain investments made and operated in Corsica. Supports, through a tax credit, investments other than replacements that are made and operated in Corsica by SMEs for an industrial, commercial, craft or liberal activity. The tax credit applies until 31 December 2028. Amount indicated in the catalogue: a tax credit of 20% of the cost price excluding VAT of eligible costs, rising to 30% for very small businesses (fewer than 11 employees). The receivable is immediately repayable for new companies, companies in safeguard, receivership or liquidation proceedings, young innovative companies and SMEs within the EU definition. Check the current rules, availability and dates before any application.
The tax credit for certain investments made and operated in Corsica targets SMEs making eligible investments for an operation located in Corsica. The official tax documentation (BOFiP) confirms that the investments concerned have been extended until 31 December 2028. Eligibility depends in particular on the company’s size, its tax regime and the nature and date of the investments; an accounting and tax check is needed.
Funded by Ministère de l’Economie, des Finances et de la Souveraineté Industrielle, Energétique et Numérique
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Who can apply
SMEs within the current EU definition carrying out an industrial, commercial, craft, liberal or agricultural activity. Excluded sectors: management or rental of buildings where the services do not relate exclusively to property located in Corsica; gambling; agriculture; processing or marketing of agricultural products (unless the taxpayer can receive investment aid under the EAGGF); production or processing of hard coal and lignite; steel; synthetic fibres; fishing; transport; construction and repair of ships of at least 100 gross tonnage; car manufacturing.
Eligibility conditions
SMEs in difficulty can receive the tax credit if they have obtained prior approval from State services (a company is in difficulty when it is subject to safeguard or receivership proceedings or when its financial situation makes the end of its activity imminent); this approval is granted if the credit for the investments planned under the company’s restructuring plan does not affect trade to an extent contrary to the common interest. If an asset that gave entitlement to the credit is sold or ceases to be used for the activity for which it was acquired or created, or if the buyer ceases its activity, within 5 years of acquiring or creating the asset (or during its normal period of use if shorter), the credit is clawed back for the financial year or year in which these events occur. However, the credit is not clawed back if the asset is transferred and the recipient undertakes to operate it in Corsica in an eligible activity for the remainder of the holding period: in a gratuitous transfer of a sole proprietorship; when an individual contributes a sole proprietorship or a complete line of business to a company under a real tax regime; in a merger; or in a partial contribution of assets of a complete line of business or similar items. The undertaking is made in the transfer deed or, failing that, in a private deed with a certain date drawn up for the occasion. For partnerships or economic interest groupings not subject to corporation tax, the credit can be used by the partners in proportion to their rights, provided they are subject to corporation tax or are individuals taking part in the operation — where the investment is made by a partnership or an economic interest grouping, their partners or members must keep their shares in it for 5 years from the date of the investment. Otherwise, the tax credit they have used will be clawed back for the financial year or year of the sale, buy-back or cancellation of these shares.
What the scheme covers
Capital goods depreciable on a declining-balance basis, and fittings and installations of commercial premises usually open to customers, created or acquired new; the same goods, fittings and installations leased from a leasing company; software that forms part of fixed assets and is needed to use the two previous types of investment; hotel renovation works; construction and renovation works on private health establishments. Excluded: investments for the management and rental of furnished holiday lets.
Amount and funding terms
Amount of the tax credit: 20% of the cost price excluding VAT of eligible costs, rising to 30% for very small businesses (fewer than 11 employees). Repayment: the arrangements for repaying the receivable arising from the credit are aligned with those of the research tax credit (CIR); the receivable is therefore immediately repayable when recorded by new companies (under certain conditions, for the year of creation and the following 4 years), companies subject to safeguard, receivership or liquidation proceedings, young innovative companies (JEI) and SMEs within the EU definition. Calculation: the cost price of investments is reduced by the public grants awarded to fund them. Combination: where an SME qualifies both for this credit and for the exemption from tax on profits for new companies setting up in a rural revitalisation zone (ZRR), urban regeneration zone (ZRU) or regional aid zone (AFR), or for companies created to take over a company in difficulty, the taxpayer must choose one of these regimes; the choice is irrevocable. The credit is granted in compliance with the European regulation on national regional investment aid.
How to apply
Before any commitment, check the application date, eligible costs, combination with other aid, supporting documents and the official application channel. The current date and status must be confirmed with the managing body.
Timeline
The tax credit applies to investments until 31 December 2028, according to the official tax documentation. Check the conditions in force for the investment date concerned.
Key facts
- Funder
- Ministère de l’Economie, des Finances et de la Souveraineté Industrielle, Energétique et Numérique
- Type of funding
- Tax exemption
- Status
- Ongoing
- Funding rate
- 30%
- Automatically extracted — check the official source
- Geographic scope
- All of France
Frequently asked questions
What is the purpose of the tax credit for certain investments made and operated in Corsica?
Supports, through a tax credit, investments other than replacements that are made and operated in Corsica by SMEs for an industrial, commercial, craft or liberal activity. The tax credit applies until 31 December 2028.
Who can apply for the tax credit for certain investments made and operated in Corsica?
SMEs within the current EU definition carrying out an industrial, commercial, craft, liberal or agricultural activity. Excluded sectors: management or rental of buildings where the services do not relate exclusively to property located in Corsica; gambling; agriculture; processing or marketing of agricultural products (unless the taxpayer can receive investment aid under the EAGGF); production or processing of hard coal and lignite; steel; synthetic fibres; fishing; transport; construction and repair of ships of at least 100 gross tonnage; car manufacturing.
How much can be obtained with the tax credit for certain investments made and operated in Corsica?
A tax credit of 20% of the cost price excluding VAT of eligible costs, rising to 30% for very small businesses (fewer than 11 employees). The receivable is immediately repayable for new companies, companies in safeguard, receivership or liquidation proceedings, young innovative companies and SMEs within the EU definition.
What should be checked before applying for the tax credit for certain investments made and operated in Corsica?
SMEs in difficulty need prior approval from State services. If an asset that gave entitlement to the credit is sold or ceases to be used for its activity within 5 years (or its normal period of use if shorter), the credit is clawed back, except in certain transfers where the recipient undertakes to continue operating it in Corsica. Check also the rules for partnerships and the irrevocable choice between this credit and certain zone-based exemptions.
Official source
No official URL is available in our data for this grant.
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