What is an AMC (Approved Management Centre)?
Though not much known to the public, AMCs provide to SMEs and handicraft enterprises support in the resolution of their financial problems. As a matter of fact, an AMC has as mission to support enterprises in their finance-oriented activities without having to resort to financial agents, but rather within an associative and unionised framework that enables them to also benefit from several financial benefits.
Created in March 2000, the AMCs really settled down to work in 2011 by virtue of Decree No. 2011/1137/PM of 12 May 2011 to lay down the organisation of activities of Approved Management Centres and laying down the financial benefits inherent in the said centres.
Tax benefits shall be granted to members of AMCs during the liquidation of their tax declaration. As a matter of fact, these benefits shall be restricted solely to enterprises which declare and pay their taxes to the AMCs. This specifically refers to a 50% reduction of the tax benefit upon declaration. Clearly speaking, if an enterprise generates a taxable turnover of 10 million, its taxes shall only be calculated on 50% of the said gain, that is 5 million.
In addition to this financial benefit, the tax administration is entitled to put at the disposal of each AMC, a taxation officer who works for the AMC for free and monitors member enterprises in their tax procedures.
Membership in an AMC
To become a member of an AMC, the enterprise must be subject to the withholding tax and have a turnover between 15 and 250 million francs.