The 150-0 B ter: A strategic fiscal lever to reinvest in innovation

Entrepreneurs who sell their businesses face a double challenge: optimizing their taxation while finding promising new investment opportunities. The 150-0 B ter device of the General Tax Code provides an elegant answer to this problem.

A fiscal mechanism at the service of the real economy

The 150-0 B ter system allows company managers to reinvest the proceeds from the sale of their shares in the productive economy via a holding company, while benefiting from a tax deferral on the capital gain achieved.

Concrete example

Take the case of a manager who sells his business for 1 million euros with a capital gain of 800,000 euros. Without the 150-0 B ter system, he would have to immediately pay around €240,000 in taxes (at the PFU rate of 30%). Thanks to the deferral mechanism, it can reinvest the entire million euros, thus multiplying its investment capacity.

The conditions to be respected

To benefit from this advantageous regime:

• The holding company must reinvest at least 60% of the proceeds of the sale in an economic activity
• Reinvestment must take place within two years
• Investments should focus on operational activities
• Received titles must be kept for at least three years.

A device particularly suited to DeepTech investment

This mechanism is particularly relevant for investing in DeepTech startups that:

• Require significant capital
• Offer strong growth potential
• Contribute to innovation and technological progress
• Target large-scale markets

Double benefit: economic and fiscal

The benefits of 150-0 B ter are twofold:

1. For the investor:
   • Postponement of taxation on capital gains
   • Maintaining all the capital to reinvest
   • Possibility to diversify your investments
   • Flexibility in asset structuring
2. For the economy:
   • Stimulating investment in the real economy
   • Support for innovation and R&D
   • Development of SMEs and innovative startups
   • Maintaining capital in the productive economic circuit

Points of vigilance

The implementation of the device requires particular attention:

• Strict compliance with reinvestment deadlines - it's 2 years
• Rigorous monitoring of asset preservation conditions - the fund's time horizon is greater than 3 years
• Verification of the eligibility of target investments -The Valeureux fund is 100% compatible with re-use (capacity opinion on request)
• Precise documentation of the operations carried out - This part is provided by the management company Valeureux

Conclusion

The 150-0 B ter system is a powerful tool for entrepreneurs wishing to reinvest in innovation while optimizing their taxation. It allows capital to be maintained in the productive economy while supporting the development of ambitious and innovative projects.

Note: This article reflects legislation in force in April 2024. It is recommended that you consult a chartered accountant or a tax lawyer for a personalized analysis of your situation.

*Legal sources:

• Article 150-0 B ter of the General Tax Code
• Official Public Finance Bulletin (BoFIP)
• Administrative doctrine BOI-RPPM-PVBMI-30-10*

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