France: Finance Act of 2024 including taxation on music streaming services entered into force (Act No. 2023-1322)

On 1 January 2024, the Finance Act of 2024 entered into force. Article 53 of the Act introduces a 1.2% tax on music streaming services. The tax applies to platforms operating on a subscription or advertising-funded model that provide access to recorded music or music videos, with exemptions for services focused on musical information and promotion. It is levied on 100% of user payments and 34% of advertising and sponsorship revenue, applying only to annual revenues exceeding EUR 20 million per service, with the threshold split if multiple entities are liable. Collection and enforcement are managed by the Directorate General of Public Finance through the value added tax declaration system.