Thomas Hachette, a partner at Sorgem Evaluation, led a conference on management packages alongside Alexandre Segretain, an administrative magistrate and public rapporteur at the Paris Administrative Court. This conference was organised at the Hôtel du Collectionneur by the DCF Club (Droit Chiffre Finance), which brings together chartered accountants, statutory auditors, solicitors, notaries, financial advisers, etc., with the aim of fostering inter-professional dialogue (http://www.leclubdcf.fr/).
They began by reviewing the existing mechanisms enabling employees to invest in their company’s securities. They outlined the latest developments, particularly in terms of taxation, which have led to changes in the types of securities in which managers can invest.
A presentation was given on methods for valuing equity-linked instruments (ADP Ratchet, BSA, call options) and interest rate instruments (interest rate ADPs, convertible bonds, shareholder loans, etc.).
Thomas Hachette and Alexandre Segretain shared their experience of tax audits and litigation in this area and commented on recent rulings on the subject. This highlighted, in particular, certain practices that can pose difficulties during tax audits.
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