Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

APPENDIX E 4172 J 2. The Transfer Duty (Droit de Transmission) of Fr. o.25 per Frs. 100, based upon the average market price of the security in Paris for the previous year, payable in quarterly instalments. The Income Tax (Impét sur le Revenu) of 16 per cent. on interest or dividends paid. In the case of securities on which the income varies, the tax has to be paid in advance in quarterly instalments, each provisionally calculated on the basis of one-fifth of the previous year’s dividend. Ifitis eventually established that no dividend was paid during the year the sum thus provisionally paid is refunded by the Fisc. If dividends are paid a final settlement is arrived at after the actual dividends for the year are ascertained. In the case of a new company that has not commenced the payment of dividends, the quarterly instalment of one-fifth is cal- culated on a supposed revenue of 5 per cent. on the security in question. The company is entitled to recover the transfer duty and income tax, by deductions made when paying dividends to its French shareholders. If it does not, the amount of these taxes is regarded as additional dividend, and a supplementary income tax is payable based on the total amount of transfer duty paid for the previous vear and on the income tax. These taxes are payable on the proportion of the capital >stimated by the Fisc to be in circulation in France, the estimate being based on the number of shares registered in the names of persons whose addresses are in France, plus the number of bearer shares estimated to be in France as shown by the cashing of coupons and other indications regarding which the company has to furnish information to the authorities. The assessment is fixed for a period of three years at a time. It is necessary to appoint a French financial institution as Représentant Responsable, and to forward to that institution: ‘a) A declaration of the Company’s intention to circulate in France certain shares; of its undertaking to pay taxes; and of its appointment of the institution named as Représentant Responsable. 'b) A letter indemnifying the Représentant Responsable in respect of the abonnement. These documents are usually drafted by the Représentant Responsable, signed by two directors and by the secretary, and sealed before a notary, the notary’s certificate being legalised by the French consul. A French translation (preferably made by a sworn translator. of the company’s complete articles of association has te be pup- lished in the Bulletin des Annonces légales obligataives a la charg. des sociélés financiéres.

Access restriction

Copyright

fullscreen: Secretarial practice

Monograph

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation