French General Tax Code
In forceThe option mentioned in Article 260 B does not apply:
1° Transactions carried out by affiliates of the central body of savings banks and banques populaires, as well as their groupings, between themselves or with the central body of savings banks and banques populaires;
2° Transactions carried out between themselves by the mutual credit banks that are members of the national confederation of mutual credit;
3° Transactions carried out between themselves by the agricultural credit banks mentioned in article L. 512-21 of the Monetary and Financial Code;
3° bis (Repealed)
4° To interest, agios, remuneration for securities lending carried out under the conditions provided for in articles L. 211-22 to L. 211-26 of the Monetary and Financial Code, profits from repos carried out under the conditions provided for by articles L. 211-27 to L. 211-34 of the same code;
5° Remuneration equivalent to interest or agios, the list of which is established by order of the Minister of Finance;
6° Sales of transferable securities and negotiable debt securities;
7° Sums paid by the Treasury to the Banque de France;
8° Fees and commissions received on the issue of shares in open-ended investment companies and sums received on the transfer of receivables or as remuneration for the management of transferred receivables;
9° Banking transactions relating to the financing of exports, deliveries exempt under I of article 262 ter or transactions located outside France, the list of which is set by order of the minister responsible for the budget ; however, the option includes commissions relating to the financing of exports or deliveries exempted under I of article 262 ter when, as a result of the option, commissions of the same nature are themselves subject to value added tax under the domestic system;
10° Transactions subject to tax on insurance policies;
11° Transactions referred to in d and g of 1° of article 261 C ;
12° To commissions received on the issue and placement of bonds and shares.
13° Repealed.
14° Transactions involving capitalisation products covered by the Insurance Code.
