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This chapter is not exhaustive and is limited to broadly outline the tax consequences of the main events occurring when doing business in France. It does not constitute a tax advice or a client - attorney relationship. Materials are not suitable for tax analysis. Visitors are invited to consult a tax lawyer before taking any decision.
 The effective tax rate is equal to the addition of the current and deferred taxes due by a group of company according to its consolidated accounts divided by the result before taxes evidenced by the same consolidated accounts.
When an enterprise reports consolidated financial statements, it is important to measure the tax consequences of the main transactions and reorganizations both for current and deferred taxes because the deferred tax burden might significantly modify after tax profitability and therefore the earning per share of the group.
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