Family tax credit and how it works

The family tax credit, more commonly known as the CIF, for best accountancy training Best school of accountancy In Pakistan. offers companies the possibility of helping their employees to better reconcile their family and professional life  : for example, the expenditure related to these aids, such as the setting up of For example, allows these companies to benefit from the CIF and deduct certain expenses from their tax . Zoom on this measure that can be particularly interesting ...

Who can benefit from the CIF?

The family tax credit was created for companies whose beneficiaries are taxed at the income tax or corporation tax , but also for professional civil societies and public institutions and associations Are subject to corporation tax . If the company meets these conditions, whatever its legal status or sector of activity, it can benefit from this type of tax credit .

What expenses are eligible for CIF?

To benefit from the CIF, there are several solutions. First of all, it is necessary to make expenditures to finance and create a nursery or day care center that will be operated and managed by the company . It is also necessary for the company to contribute financially to the expenses of public or private organizations operating a crèche or drop-in center. Expenditure related to the establishment of these structures and their operation (movable and immovable property, consumables, maintenance costs) are eligible for the family tax credit when they receive children under three Years of the employees are automatically eligible.

What is the amount of the CIF?

The calculation of the family tax credit is made per calendar year, with a ceiling of € 500,000 per year. It should be noted that any public subsidies received for the implementation of the project will be deducted. The CIF must be charged against the corporate income tax payable by the company.

Businesses can therefore easily benefit from the family tax credit, provided of course to respect the conditions imposed by the law.