Déchiffrer 2027

FREN

Business taxation, David Lisnard

Corporate income tax: National corporate income tax at 20%, plus a local 0 to 5% share set by local authorities

Direction of change: decrease, compared with current law.

The lever. Standard rate of the tax paid on company profits, and reduced rate for small businesses. Direction rule: ↑ heavier tax.

« L’IS serait ramené à 20 % au niveau national, avec une liberté de taux local (entre 0 et 5%) pour les collectivités, afin que la responsabilité fiscale s’exerce au plus près des enjeux du terrain en combinant incitation à accueillir des entreprises et saine compétition. »1

Translation by the editorsCorporate income tax (IS) would be brought down to 20% at national level, with freedom to set a local rate (between 0 and 5%) for local authorities, so that fiscal responsibility is exercised as close as possible to issues on the ground, combining an incentive to host businesses with healthy competition.

Words of David Lisnard, Tribune « Changer de logiciel fiscal », Atlantico (reprise sur unenouvelleenergie.fr), 16 April 2026. Position taken from public statements, not from a written programme.

Encoding

ParameterCurrent lawProposedEffective date or horizon
Standard corporate income tax rate25%20%* (outside the range measured by the source: linear extrapolation) (assumption by the editors, see the costing)Full year; for 2032, to be indexed to taxable profit, which is highly cyclical

Costing

Announced by the candidate

not announced

The cited source does not cost this measure.

Published costings

none

No external costing of this position recorded to date.

Our calculation

−€12bn* (outside the range measured by the source: linear extrapolation)

per year for the public accounts, revenue cut, range −€15bn to −€12bn.

* Outside the range measured by the source: linear extrapolation (measured range: 25% only).

The calculation

  • Standard corporate income tax rate: (20 − 25) ÷ 1 = -5 times “1 point on the standard corporate income tax (IS) rate, static (€59.9bn of net IS in 2025 divided by 25)”, each a gain of €2.4bn (2.34 to 2.9). Proposed value outside the range measured by the source: linear extrapolation (measured range: 25% only). Coefficient calculated by the editors from the yield at the current rate (25%): any other value is a linear extrapolation, flagged as such. Central value brought down to the smallest amount (€2.34bn per step).

Assumption by the editors. Partial costing. Only the national rate is costed (25% → 20%). The local share of 0 to 5 points, left to the choice of local authorities, is not counted: if all of them voted 5%, the total rate would remain 25% and the cost for general government as a whole would be almost zero. The amount shown assumes that no local share is voted: it is the top of this range. The same op-ed criticises the exceptional surcharge on large companies without saying what becomes of it: it is not costed.

Coefficient calculated by the editors from Fipeco, L'impôt sur les sociétés: the position is marked as an assumption by the editors.

Central value brought down to the smallest amount: The note acknowledges that the amount shown is the top of the range opened by the local share of 0 to 5 points: overestimate, central value at the smallest amount of the coefficient.

Current law, sources and limits of the cost schedule

Current law. Standard rate of 25% since 2022; 15% on the first €42,500 for SMEs (turnover < €10m); social contribution of 3.3%. Exceptional surcharge (LFI 2025) of 20.6% of corporate income tax if turnover exceeds €1bn and 41.2% if it exceeds €3bn (effective rate of 30.1% or 35.3%), renewed in the LFI 2026. Yield: €59.9bn of net corporate income tax in 2025, €60.3bn forecast for 2026 and €58.5bn in 2027 (Voies et moyens, PLF 2027), excluding the exceptional contribution (it appears among other revenue); €67.6bn in 2025, including the €7.5bn surcharge, according to Fipeco.

Horizon. Full year; for 2032, to be indexed to taxable profit, which is highly cyclical.

Limits. No official cost per point of corporate income tax (IS) was found: the impact assessment of the cut in the rate from 33⅓% to 25% (PLF 2018) is accessible neither in the National Assembly documents nor in the Senate general report consulted. Coefficient calculated by the editors: central value, €59.9bn of net IS in 2025 divided by 25; lower bound, €58.5bn forecast for 2027 divided by 25, i.e. 2.34; upper bound, 1% of the €287bn of profits of profit-making companies, before loss carry-forwards (Fipeco). High elasticity (profit shifting): a static costing overstates the gain from an increase and the cost of a cut. Rate for large companies only (rule on public bases, 18 October 2026): 1 point is worth the standard-rate coefficient multiplied by the share of large companies (300 taxpayers) in gross IS, €23.5bn out of €71.2bn in 2021 (DGFiP, published by Insee), i.e. 33%; their share in IS net of tax credits is similar (€19.4bn out of €60.0bn, 32%). In 2021, companies with turnover above €250m were taxed at 27.5% and the others at 26.5%: the 2021 share roughly reflects that of profits. The exceptional surcharge on large companies (“Windfall profits and share buybacks” lever) is renewed for a third and final financial year by article 15 of the finance bill for 2027, at reduced rates: it is not in the law in 2032.

  • Fipeco, L'impôt sur les sociétés, 2026-09-30: « En 2025, le produit de l'IS était de 67,6 Md€ en comptabilité budgétaire ... majoration exceptionnelle incluse ... Son rendement a été de 7,5 Md€ en 2025 ... 1,8 million d'entreprises ... bénéficiaires (287 Md€ de bénéfices) »
  • PLF 2027, Évaluation des voies et moyens, tome I (page 22), 2026-10: « Les recettes d’impôt sur les sociétés net ont atteint 59,9 Md€ en 2025, soit une plus-value de +6,9 Md€ par rapport à la prévision de la LFI 2025. […] Les recettes d’impôt sur les sociétés sont estimées à 60,3 Md€ en 2026. […] En 2027, les recettes d’impôt net sur les sociétés s’élèveraient à 58,5 Md€ »
  • Insee Références, Les entreprises en France, édition 2023, fiche 3.6 « Impôt sur les sociétés » (données DGFiP 2021), 2023: « L’IS brut des grandes entreprises, d’un montant de 23,5 milliards d’euros en 2021 […] l’IS brut, c’est‑à‑dire l’impôt dû avant prise en compte des réductions et crédits d’impôt, s’élève à 71,2 milliards d’euros […] Les 300 grandes entreprises bénéficient de 4,1 milliards d’euros de crédit d’impôt […] Le montant des crédits d’impôt perçu par les entreprises à l’IS a quant à lui légèrement diminué entre 2020 et 2021 (11,2 contre 11,6 milliards d’euros) […] le taux d’IS est porté à 27,5 % pour les entreprises réalisant plus de 250 millions d’euros de chiffre d’affaires et à 26,5 % pour les entreprises réalisant jusqu’à 250 millions d’euros de chiffre d’affaires. »
  • Legifiscal, PLF 2027 : prorogation de la contribution exceptionnelle sur les bénéfices des grandes entreprises à taux plus bas (1er octobre 2026), 2026-10-01: « L'article 15 l'étend à un troisième exercice, soit l'exercice 2027 pour une clôture au 31 décembre. […] Le taux passerait de 20,6 % à 15,7 % pour un chiffre d'affaires compris entre 1,5 et 3 milliards d'euros, et de 41,2 % à 31,4 % au-delà de 3 milliards d'euros. […] la contribution, réduite de 30 %, rapporterait 5 milliards d'euros en 2027, contre 7,5 milliards en 2026. »

How to read these amounts. These are static costs and revenues, with no feedback effect, over a full year: nothing on growth, employment or the revenue that economic activity would gain or lose. A higher net cost does not on its own make a worse policy, nor net savings a better one: each programme rests on an economic model (demand-led stimulus, lower compulsory levies, consolidation of the public accounts…) that the cost schedule does not settle. GDP itself measures a volume of activity, not well-being or the usefulness of what is produced. Economic models and feedback effects.

This lever in the method · Costing for David Lisnard

  1. Tribune « Changer de logiciel fiscal », Atlantico (reprise sur unenouvelleenergie.fr), 16 April 2026. Words of David Lisnard. Position taken from public statements, not from a written programme. Read the source (Tribune « Changer de logiciel fiscal », Atlantico (reprise sur unenouvelleenergie.fr)).

Contest this encoding (prefilled email; procedure and deadlines)