Making R&D tax credit conditional on dividend payment criteria: a microsimulation analysis

Conditionnalité du crédit d'impôt recherche à un critère de versement de dividendes: un exercice de microsimulation

Pierre Courtioux () and François Métivier ()
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Pierre Courtioux: DVHE - De Vinci Higher Education, DVRC - De Vinci Research Center - DVHE - De Vinci Higher Education, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique
François Métivier: IPG Paris - Institut de Physique du Globe de Paris

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Based on a microsimulation analysis over the period 2009-2019, this note presents the results of different scenarios for making the French R&D tax credit (CIR - Crédit Impôt Recherche) conditional on a diviend payment criterion. It shows that 27% of companies declaring R&D expenditure for the CIR in a given year pay dividends to their shareholders. Furthermore, 14% of companies declaring R&D expenditure eligible for the CIR increased their dividends payments in the same year. Depending on the scenario adopted, the introduction of a condition on the non-payment of dividends or the absence of an increase in payments could yield between 1 and 2.1 billion euros (i.e. between 16 and 36% of the total annual R&D tax credit claim).

Keywords: France; microsimulation; dividend; R&D tax credit; dividendes; crédit impôt recherche (search for similar items in EconPapers)
Date: 2025-06
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-05271781v1
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Published in 2025

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