Banking and financial transactions – Taxable transactions on option – Terms of exercise, operation and revocation of the option

According to Article 260 B of the General Tax Code (CGI) , these are transactions relating to banking, financial activities and in general to trading in securities and money, exempt from VAT and carried out by:

• credit institutions, investment services providers, money changers, discounters and brokers;
• the people for whom they constitute the main activity.

This is particularly the case for the following operations, this list not having a limiting character.

For the application of Article 260 B of the General Tax Code (CGI) , banking or financial activities means activities carried out by credit institutions, market companies, money changers, discounters and brokers ( CGI, app. III, art. 70 sexies ).

In particular, the following may exercise the option:

• the organizations referred to in article 1654 of the CGI  ;
• organizations dependent on the union chamber of popular banks;
• the Crédit Mutuel funds that are members of the confederation which, not subject to the legislative and regulatory provisions concerning Crédit Agricole Mutuel, are governed by the provisions of Article 5 of Ordinance No. 58-966 of October 16, 1958 relating to various Treasury provisions .

More generally, persons other than these securities and money trading professionals are likely to exercise this option when they principally carry out transactions related to banking and financial activities.

Sources:

• gouv.fr
• gouv.fr

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