The French tax authorities have updated the maximum annual interest rate used by companies to calculate the limit in the tax deductibility of interest under the provisions of Article 39, 1-3 ° of the French Tax Code, in respect of accounting period (12 months) ending between 30 June 2013 and 29 September 2013 (BOI-BIC-CHG-50-50-30-20130718 n° 40 dated 18 July 2013).

The maximum deductible interest rate is now:

  • 2.90% for accounting period ending between 30 June 2013 and 30 July 2013;
  • 2.87% for accounting period ending between 31 July 2013 and 30 August 2013;
  • 2.84% for accounting period ending between 31 August 2013 and 29 September 2013.