France – New requirements for VAT-registered foreign compa | KPMG | GLOBAL.
The Direction Générale des Finances Publiques issued a notice specifying that such VAT-registered companies also must submit an e-accounting file.
Since 1 January 2014, all companies (1) established and subject to tax audit in France and (2) that maintain their accounting records using IT systems, must maintain and submit a “file of accounting entries.” Going forward, this requirement also applies to foreign companies that are only VAT-registered in France.
Failure to comply with this new requirement may be subject to a penalty of €5,000 or 10% of the amount of taxes determined under a re-assessment in certain instances.
Read an October 2014 report [PDF 32 KB] prepared by Fidal*: New e-obligations for foreign companies