Press briefing for CFOs (week of January 2, 2023) – Finance function

In the eco-finance press this week, the main changes that await companies in 2023, whether the government’s green industry bill or accelerated business failures, the payment of EMPs implemented without difficulty and the hybrid business structure. Good read!

Bruno Le Maire wants to pass a law on “green industry”.

The bill will be structured in five directions: taxation (changing or creating “green” research and development mechanisms, industrial investments, etc.), rehabilitation of industrial waste (shortening deadlines, simplification), “made in France” (creation). the introduction of the “green industry” label, the use of public procurement), the investment of part of France’s 2,500 billion euro savings in industry (through the creation of a “green industry handbook”) and skills development (a more comprehensive approach designed to promote nuclear and, for example, the feminization of occupations with hydrogen). Given budget constraints, the project lacks the ambition to respond to America’s protectionist measures, which have mobilized several hundred billion dollars. “There will be no fiscal big bang, government member warns. […] It is more about the proper distribution of public resources and funding and the mobilization of savings.” Funds earmarked for the France 2030 plan could be redistributed for amrge. >> Read the full article on Le Monde website.

Taxes: What will change for businesses in 2023

The year 2023 will be remembered by the further reduction of production taxes in the amount of 4 billion euros. The government is also making a small gesture in favor of SMEs and creating a niche for companies opening reinsurance subsidiaries. Increasing the competitiveness of French companies remains the government’s mantra. After lowering the corporate tax rate and reducing taxes on production by 10 billion, the move will continue next year by reducing the contribution to companies’ value added (CVAE). The executive has also fought to avoid any tax on “super-dividends” or “super-profits”, but companies in the energy sector do not avoid paying an exceptional contribution to the rents they earn from the war in Ukraine. >> Read the full article on the Les Echos website

Recycling: manufacturers and distributors called for acceleration in 2023

The new parts of the law on buildings and cars should be implemented by the circular economy this year. Disposable knives are prohibited in fast food restaurants. The idea is that the French economy is becoming more and more ‘circular’. in 1er In January, new EPRs (Extended Producer Responsibility) were implemented on automotive and food packaging. In addition, “We will see an expansion of REP, launched last year, particularly for toys, sporting goods and DIY”, we say to the office of the Minister of Environmental Transition, Christoph Bechu. >> Read the full article on the Le Figaro website

Business failures are accelerating in France

An increase in corporate bankruptcies has been announced for 2022. Acceleration has indeed occurred. According to data from the Banque de France, exclusively revealed by “Les Echos”, 41,000 fault lines were crossed last year, a 48% increase compared to 2021, when just under 27,600 were recorded. SMEs and very small businesses are particularly likely to fail, almost twice as often as in 2021. All sectors of the industry are concerned. In 2023, bankruptcy may accelerate with the energy crisis and return to pre-Covid levels. >> Read the full article on the Les Echos website

Only 4% of state-guaranteed loans (PGE) face repayment difficulties

4% of loans guaranteed by the state (PGE), mainly from small businesses, face repayment difficulties, and according to Philippe Brassac, president of the French Banking Federation (FBF), “about 25% of the amounts were repaid in equity. From March 2020 to June 2022, about 700,000 state-guaranteed loans (SGUs) with a total amount of more than 143 billion euros were issued by banks. These loans have given many companies the opportunity to provide their funds during the pandemic on favorable terms, with an interest rate of no more than 2.5%, including a state guarantee. >> Read the full article at La Tribune

“Hybrid work needs to be deeply structured, otherwise we will all end up as robots in what will appear to be temporary companies”

Since the advent of telecommuting, the French feel less free in their professional lives. The Swiss Life freedom of choice barometer index has indeed fallen significantly: ?-16 points since 2020, i.e. 25% in 2022. Tanguy Polet, CEO of Swiss Life France, and Alexandre Jost, founder of Fabrique Spinoza, return to the advent of remote control. the issue of work and returning to the office. They advocate the need to structure everything to prevent companies from being dehumanized. >> Read the full interview on the Maddyness website

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