Tax policy directorate – Bureau a

ACQUIRING BONUS SHARES 
Gains from exercising stock options and acquiring bonus shares allocated since 16 October 2007 are 
liable to an employee contribution when the beneficiary is affiliated to a compulsory health insurance 
scheme. 
As an exception, this contribution is not due on vesting gains on bonus shares authorised by a decision 
of an extraordinary general meeting of shareholders: 
- from 8 August 2015 to 30 December 2016.
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- as from 31 December 2016, only for the portion of such gains not exceeding an annual limit of 
€300,000.
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The social levy was raised from 3.4% to 5.4% by the first 2012 Supplementary Budget Act then cut to 
4.5% by Article 3 of the 2013 Social Security Financing Act, i.e. a 0.9 point reduction. 
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In return for the abolition of the additional social levy of 1.1%. 
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Article 135 of the Growth, Economic Activity and Equal Economic Opportunity Act no. 2015-990 of 6 
August 2015. 

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The employee contribution is set at 10% for gains from exercising stock options or acquiring shares as 
from 18 August 2012. It is payable in relation to the year the disposals were made. 
This contribution is not deductible from the income tax base.
The employee contribution is verified, collected and payable under the same conditions, and is subject 
to the same penalties as those for the CSG on income from personal assets (see Section I above). 
VI – EMPLOYEE CONTRIBUTION APPLICABLE TO CERTAIN PAYMENTS AND GAINS 
ON CARRIED INTEREST UNITS OR SHARES 
A specific employee contribution of 30% is levied on payments or gains on carried interest units or 
shares in venture capital mutual investment funds, venture capital companies and European private 
equity funds when these payments or gains are liable to income tax in accordance with the rules 
applying to wages and salaries. 
This contribution discharges the beneficiary from paying any other contribution or social levy. 
The base and collection methods are identical to those of the CSG due on income from personal 
assets.