{"id":6736,"date":"2016-12-24T16:54:05","date_gmt":"2016-12-24T15:54:05","guid":{"rendered":"https:\/\/www.auditsi.eu\/?p=6736"},"modified":"2016-12-24T16:54:05","modified_gmt":"2016-12-24T15:54:05","slug":"evaluation-des-titres-non-cotes-precisions-suite-a-larret-du-conseil-detat","status":"publish","type":"post","link":"https:\/\/www.auditsi.eu\/?p=6736","title":{"rendered":"\u00c9valuation des titres non cot\u00e9s \u2013 Pr\u00e9cisions suite \u00e0 l\u2019arr\u00eat du Conseil d\u2019Etat"},"content":{"rendered":"<p style=\"text-align: justify;\">Le prix d\u2019acquisition de titres de soci\u00e9t\u00e9s non cot\u00e9es doit correspondre \u00e0 leur valeur v\u00e9nale. La jurisprudence pr\u00e9cise que cette valeur peut \u00eatre d\u00e9termin\u00e9e par r\u00e9f\u00e9rence au prix fix\u00e9 lors d&#8217;une autre transaction comparable (m\u00e9thode par comparaison) ou, \u00e0 d\u00e9faut, \u00e0 l\u2019aide de m\u00e9thodes alternatives (valeur math\u00e9matique, coefficient multiplicateur de l&#8217;EBITDA, valeur de rendement&#8230;)&nbsp;; ces m\u00e9thodes alternatives pouvant \u00eatre combin\u00e9es entre elles.<\/p>\n<p style=\"text-align: justify;\">Toutefois, le Conseil d&#8217;\u00c9tat conteste \u00e0 l\u2019administration fiscale la possibilit\u00e9 de combiner la m\u00e9thode par comparaison avec d\u2019autres m\u00e9thodes. En effet, le Conseil d\u2019Etat consid\u00e8re que la m\u00e9thode par comparaison est une m\u00e9thode \u00e0 part enti\u00e8re et qu&#8217;elle n&#8217;a pas \u00e0 \u00eatre combin\u00e9e avec d&#8217;autres (CE 21 octobre 2016, n\u00b0 390421).<\/p>\n<p style=\"text-align: justify;\">La position du Conseil d&#8217;\u00c9tat contredit le <a href=\"https:\/\/www.auditsi.eu\/?p=4115\">guide de l&#8217;administration fiscale sur l&#8217;\u00e9valuation des titres non cot\u00e9s<\/a> selon lequel la combinaison de plusieurs m\u00e9thodes (dont la m\u00e9thode par comparaison) est possible.<\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - https:\/\/www.hupso.com\/share\/ --><a class=\"hupso_counters\" href=\"https:\/\/www.hupso.com\/share\/\"><img decoding=\"async\" src=\"https:\/\/static.hupso.com\/share\/buttons\/lang\/fr\/share-small.png\" style=\"border:0px; padding-top:2px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_c=new Array(\"twitter\",\"facebook_like\",\"facebook_send\",\"email\",\"print\",\"linkedin\");var hupso_counters_lang = \"fr_FR\";var hupso_image_folder_url = \"\";var hupso_twitter_via=\"BenoitRiviere14\";var hupso_url_c=\"\";var hupso_title_c=\"%C3%89valuation%20des%20titres%20non%20cot%C3%A9s%20%E2%80%93%20Pr%C3%A9cisions%20suite%20%C3%A0%20l%E2%80%99arr%C3%AAt%20du%20Conseil%20d%E2%80%99Etat\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/counters.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"excerpt":{"rendered":"<p>Le prix d\u2019acquisition de titres de soci\u00e9t\u00e9s non cot\u00e9es doit correspondre \u00e0 leur valeur v\u00e9nale. La jurisprudence pr\u00e9cise que cette valeur peut \u00eatre d\u00e9termin\u00e9e par r\u00e9f\u00e9rence au prix fix\u00e9 lors d&#8217;une autre transaction comparable (m\u00e9thode par comparaison) ou, \u00e0 d\u00e9faut, \u00e0 l\u2019aide de m\u00e9thodes alternatives (valeur math\u00e9matique, coefficient multiplicateur de l&#8217;EBITDA, valeur de rendement&#8230;)&nbsp;; ces &#8230;<\/p>\n<p><a href=\"https:\/\/www.auditsi.eu\/?p=6736\" class=\"more-link\">Continue reading &lsquo;\u00c9valuation des titres non cot\u00e9s \u2013 Pr\u00e9cisions suite \u00e0 l\u2019arr\u00eat du Conseil d\u2019Etat&rsquo; &raquo;<\/a><\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - https:\/\/www.hupso.com\/share\/ --><a class=\"hupso_counters\" href=\"https:\/\/www.hupso.com\/share\/\"><img src=\"https:\/\/static.hupso.com\/share\/buttons\/lang\/fr\/share-small.png\" style=\"border:0px; padding-top:2px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_c=new Array(\"twitter\",\"facebook_like\",\"facebook_send\",\"email\",\"print\",\"linkedin\");var hupso_counters_lang = \"fr_FR\";var hupso_image_folder_url = \"\";var hupso_twitter_via=\"BenoitRiviere14\";var hupso_url_c=\"\";var hupso_title_c=\"%C3%89valuation%20des%20titres%20non%20cot%C3%A9s%20%E2%80%93%20Pr%C3%A9cisions%20suite%20%C3%A0%20l%E2%80%99arr%C3%AAt%20du%20Conseil%20d%E2%80%99Etat\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/counters.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[7,800,1226],"tags":[1116,1782,1779,1761,1780,1229,1234,1777,1233,1235,1231,1781,1778],"class_list":["post-6736","post","type-post","status-publish","format-standard","hentry","category-breves","category-cycle-fiscalite","category-cycle-immobilisations","tag-administration-fiscale","tag-ce-21-octobre-2016-n-390421","tag-coefficient-multiplicateur","tag-conseil-detat","tag-ebitda","tag-evaluation-dentreprise","tag-jurisprudence","tag-methode-par-comparaison","tag-methodes-de-valorisation","tag-prix","tag-titres-de-societes","tag-valeur-de-rendement","tag-valeur-mathematique"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/posts\/6736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6736"}],"version-history":[{"count":2,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/posts\/6736\/revisions"}],"predecessor-version":[{"id":6738,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=\/wp\/v2\/posts\/6736\/revisions\/6738"}],"wp:attachment":[{"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.auditsi.eu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}