VINCI took note of the French Government’s plan to introduce a new tax on certain transport infrastructures, and intends to assert its rights

27 September 2023 - 8:15 pm - Events - France

VINCI took note of the draft finance law for 2024 (PLF 2024) that has been presented to the Council of Ministers today.

Article 15 of this draft plans the introduction of a tax on the operation of certain long-distance transport infrastructures in France, with effect from 2024.

At first sight, and based on the 2022 revenue of the entities concerned (ASF, Cofiroute, Escota and Aéroports de Lyon), its impact on the VINCI Group would be an additional charge of about €260 million for the fiscal year, this amount almost exclusively concerning the motorway concession companies.

VINCI takes issue with this draft, which is contrary both to the spirit and to the letter of concession contracts, particularly those signed between the State as grantor and the motorway concession companies (which include tax neutrality clauses), and it intends to use all available avenues of appeal.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.