Large companies having cost accounting and/ or consolidated accounts have to provide them to the French tax authorities in the course of tax audits. Enterprises concerned are notably enterprises maintaining cost accounting and which total gross assets equal or exceed €400 million or the turnover of which exceeds €152.4 million or €76.2 million depending on the activity of the enterprise; as well as enterprises holding more than 50% or held for more that 50% by an enterprise meeting these criteria.

This new requirement applies to tax audit notices sent as of 31 December, 2013.

The penalty for failure to provide cost accounting and consolidated accounts initially amounted to 5‰ of the declared turnover (in the absence of adjustment) or adjusted turnover for each audited year. This penalty was defined by reference to the existing penalty (article 1729 D) applicable in case of failure to provide computerized accounting. The Constitutional Council declared it contrary to the French Constitution. As a consequence, the penalty is limited to € 1,500 in case of failure to provide cost accounting, consolidated accounts or computerized accounting.