The French Tax Authority has issued a notice dated 11 April 2025 that explains the reporting and payment arrangements for the new tax on capital reductions following the repurchase by certain companies of their own shares. As previously reported, the French Finance Law for 2025 introduced a new share buyback tax equal to 8% on capital reductions and associated premiums resulting from the cancellation of shares bought back on the market, which applies retroactively from 1 March 2024 for capital reductions carried out by large companies with annual turnover of at least EUR 1 billion. Two versions of the tax...