PLF 2027: the surcharge on large companies falls, the stablecoin tax resists

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The scenario plays out just before 8 p.m. on Tuesday, October 27. The deputies vote by public ballot (no. 9123) on nine identical amendments to delete article 15. Result: 79 votes for, 77 against and 3 abstentions. Only 159 deputies voted. According to the count by NosParlementaires, 48 ​​RN deputies and 14 Ensemble pour la République form the bulk of the 79 votes. Elected representatives from Horizons, Democrats, Republican Right and UDR complete the total. The 63 left-wing elected officials voted against. The general rapporteur Philippe Juvin and the government had given an unfavorable opinion.

Article 15 renewed the exceptional contribution on the profits of large companies for a third year. This contribution was born with the 2025 budget. It targets groups with at least 1.5 billion euros in turnover, or around 400 companies according to the government. The text lowered the rate from 20.6% to 15.7% for the first tranche. Beyond 3 billion turnover, it went from 41.2% to 31.4%. The government expected around 5 billion euros in 2027, compared to 7.3 billion estimated this year. Its removal also involves the contribution of large shipping companies.

“An exceptional contribution that lasts three years is no longer exceptional,” argued Félicie Gérard (Horizons). Éric Coquerel, LFI president of the finance committee, considered the vote “quite farcical” and put the bill at 5 billion euros in additional deficit.

A few hours later, the hemicycle changes direction. Amendment No. 3945 by Nicolas Sansu (GDR), defended by Emmanuel Maurel, is adopted by 74 votes to 72 (ballot No. 9142). The text targets groups with more than 100 million euros in turnover. Their taxable profit in France would depend on the share of global turnover generated in the country. Emmanuel Maurel mentioned “36 billion euros which escape tax via this process”. According to NosParlementaires, the adoption is due to the abstention of 53 RN deputies. On the other hand, the deputies rejected two related amendments. That of Jean-Philippe Tanguy (RN) received 59 votes against 110, and that of Éric Coquerel (LFI) 72 against 72.

The government didn't like it. Roland Lescure spoke of “a very bad idea”, contrary according to him to 125 bilateral tax conventions. Philippe Juvin added that “tax conventions and international conventions prohibit us” from this method of calculation. This is what the LCP report of October 28 reports. The deputies had also adopted a Coquerel amendment of the same type on October 28, 2025, by 207 votes to 89. It then disappeared from the promulgated 2026 budget.

The session on Wednesday, October 28 afternoon turned into a series of rejections. One by one, the deputies rejected the following amendments, including several signed Nicolas Sansu or Charles de Courson. This is what the report of the National Assembly indicates.

Machine-translated from French