France updated its financial transaction tax list to include all domestic companies with a market capitalisation over EUR 1 billion as of 1 December 2025.
French tax authorities have updated the list of companies subject to the financial transaction tax (FTT) under Article 235 ter ZD of the General Tax Code on 17 December 2025.
The update applies to French companies whose securities are traded on regulated markets and whose market capitalisation exceeds EUR 1 billion as of 1 December 2025. The updated list, published in BOI-ANNX-000467, includes over 150 companies, among them BNP Paribas, LVMH, TotalEnergies, Danone, Renault, Airbus, Air France-KLM, Hermès International, and Société Générale.
The FTT, which came into force on 19 June 2025 and was amended by Decree No. 2025-547 of 17 June 2025, is levied at a rate of 0.4% on the acquisition of capital securities. It covers transactions that result in a transfer of ownership and applies to securities issued by companies with a registered office in France and the specified market value.
Certain transactions are exempt, including purchases under capital issuance, market-making activities, intra-group transfers, employee investment schemes, buybacks for employee savings plans, and acquisitions of convertible bonds.
The tax is calculated on the acquisition value, or on market value if no contract price is specified, and is due on the first day of the month following the transaction. Liability for payment rests with the investment service provider executing the purchase or, in some cases, the account-keeping entity or central securities depository.
The FTT regime ensures centralised reporting and collection through central securities depositories, with strict provisions for compliance, reporting, and penalties for late payment or failure to report.
