BPCE - 2018 Registration document
REPORT ON CORPORATE GOVERNANCE Rules and principles governing the determination of pay and benefits
be used for the full amount, provided that it applies to all income and gains that fall within the scope of the single flat-rate withholding tax, which are collected or earned during a single year by all members of the tax household.
Dominique Martinie, Chairman of the Cooperative and CSR Committee: fixed annual attendance fees: € 13,100; ● attendance fees paid for each meeting attended, up to a limit of ● two meetings during the fiscal year: € 1,650. Other members of the Cooperative and CSR Committee: fixed annual attendance fees: € 750; ● attendance fees paid for each meeting attended, up to a limit of ● two meetings during the fiscal year: € 600. Pay granted to Non-Voting Directors Pursuant to Article 28.3 of the Articles of Association, the Supervisory Board has resolved to compensate non-voting directors by making a deduction from the attendance fees allocated to Supervisory Board Members at the Annual General Shareholders’ Meeting. Non-Voting Directors receive: fixed annual attendance fees: € 4,000; ● attendance fees paid for each meeting attended, up to a limit of ● nine meetings during the fiscal year: € 600. Rules for the awarding of attendance fees The French Finance Act for 2018 changed the methods for assessing attendance fees received on or after January 1, 2018 by directors and members of the Supervisory Boards of French limited liability companies (sociétés anonymes). Attendance fees collected on or after January 1, 2018 are subject to single mandatory withholding tax at the global rate of 30%, consisting of a flat 12.8% of the income tax plus social security contributions at the global rate of 17.2%. Taxpayers may, if so desired, opt for the progressive income tax scale instead of the flat 12.8% when filing their tax return. This option can
The following taxation conditions apply: withholdings: ●
a non-exempting flat-rate withholding tax, serving as income - tax, at a rate of 12.8%. This tax entitles taxpayers to a tax credit that can be applied to the tax calculated for the attendance fee collection year, at either the flat rate or using the progressive scale, as per their choice. Taxpayers may ask to be exempted from this withholding if they provide the attendance fee distributing company with a sworn statement that the baseline tax income thresholds set out by law have been met, no later than November 30 of the year preceding the year in which the attendance fees are paid, social security charges at rates applicable on the date of the levy - (17.2% since January 1, 2018, including a CSG [ contribution sociale généralisée – general social security tax] of 6.8% deductible from taxable income for the year of the payment, if the taxpayer has opted for the progressive scale); declaration of attendance fees on the 2042 income tax return and ● taxation at the flat rate of 12.8% or, optionally, using the progressive income tax scale. The tax credit attributed for the non-exempting flat withholding tax is determined in this way. Other pay Other pay consists of total attendance fees received by corporate officers in respect of their duties on the boards of Group companies during the period in question. Each attendance fee payment relates to the corporate officer’s presence at Board Meetings and is calculated on the basis of the total budget set by each company’s Annual General Shareholders’ Meeting.
Registration document 2018
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