Macron Bonus 2026: PPV Ceilings, Exemptions and What Employers Must Know

Updated: 25 May 2026 — Written by Samuel HAYOT, chartered accountant (expert-comptable).

The "Macron bonus" no longer exists in French law. In 2026, the popular expression refers exclusively to the prime de partage de la valeur (PPV) — the value sharing bonus made permanent by law n° 2023-1107 of 29 November 2023, following its introduction under law n° 2022-1158 of 16 August 2022, known as the "purchasing power act".

The real question is not whether the Macron bonus "still exists". It is how to implement a valid, exempt and properly documented PPV in 2026, without payroll errors or reclassification risk.

Direct answer. In 2026, the PPV can reach €3,000 per employee (€6,000 with a profit-sharing agreement). In companies with fewer than 50 employees, it is exempt from social contributions, CSG/CRDS levies and income tax for employees earning below 3 times the SMIC — subject to the legal conditions in force until 31 December 2026.

The exceptional purchasing power bonus (PEPA) — dubbed "prime Macron" in the press — existed in several temporary forms between 2018 and 2022. Law n° 2022-1158 of 16 August 2022 replaced it with a permanent scheme: the prime de partage de la valeur.

Law n° 2023-1107 of 29 November 2023 then consolidated this framework and created a "favourable transitional regime" running from 1 January 2024 to 31 December 2026, particularly advantageous for small businesses. This transitional regime is the central point to analyse before any payment in 2026.

What has not changed: the PPV remains a voluntary measure — no employer is obliged to pay it.

Eligible employers: all private-sector employers, regardless of company size, as well as certain public employers with private-law staff (industrial and commercial public establishments, for example).

Eligible employees: any employee with a contract of employment at the time of payment, temporary agency workers on assignment, and, within specific frameworks, workers at sheltered employment establishments (ESAT).

Employees whose gross remuneration exceeds 3 annual SMIC (threshold to verify on urssaf.fr) remain eligible for the PPV but lose the income tax and CSG/CRDS exemption available under the 2024–2026 transitional regime.

The ceiling is assessed per calendar year and per employee. If the employer pays in several instalments during the year, the combined total must not exceed the applicable ceiling. Any amount above the ceiling is reintegrated into the ordinary social contribution and taxable income base.

The 3 SMIC threshold is assessed over the 12 calendar months preceding the payment, including all gross remuneration. The gross monthly SMIC for 2026 should be verified on urssaf.fr (indicative value at 1 January 2026: à vérifier).

In the files we handle, the distinction is not between "Macron bonus" and "PPV" — that is a vocabulary question. The real line is the 50-employee headcount.

A company with 48 employees that pays a €3,000 PPV to a staff member earning €2,200 gross per month owes nothing on that amount — neither on the employer side nor the employee side, nor for income tax. An employee in the same company earning €5,000 gross (i.e. above 3 SMIC) will receive the bonus exempt from social contributions, but must include it in taxable income.

The same bonus, in the same company, can therefore have two distinct tax treatments depending on the recipient's remuneration. This is the point employers most commonly overlook.

The PPV is established by:

• a unilateral employer decision (décision unilatérale de l'employeur, DUE), signed before the payment date; or
• a collective agreement (company agreement, branch agreement, or group agreement).

The DUE is sufficient in the vast majority of SMEs. It must specify:

• the amount or calculation method;
• the payment date;
• the scope of eligible employees (all eligible staff, or an objectively defined category);
• any modulation criteria applied, if applicable.

Permitted modulation criteria: remuneration, job classification, seniority, contractual working hours, effective working presence. A modulation criterion not on this list (for example, individual merit without a defined grid) creates a risk of challenge.

Instalment payments: the law permits up to two payments per year (à vérifier for 2026 — refer to the consolidated text on legifrance.gouv.fr). The annual cumulative total must remain within the ceiling.

Accessing the increased €6,000 ceiling requires that an intéressement or voluntary participation agreement exists at the time of payment. It is not sufficient to have negotiated an agreement: it must be signed, filed, in force, and applicable to the employees receiving the bonus.

Key points to watch:

• A profit-sharing agreement under negotiation does not qualify. It must be signed and filed.
• Mandatory legal participation (compulsory for companies with 50 or more employees) counts as a qualifying scheme — but the company must actually have constituted the statutory reserve.
• The increased ceiling applies to payments made after the agreement comes into force, not retroactively.

For more detail on this topic, see our guide on intéressement and participation for SMEs 2026.

The non-substitution rule is absolute: the PPV cannot replace a salary increase required by a collective agreement, an established company practice, or a decision already taken; nor can it substitute for a bonus already paid regularly (13th month, seniority bonus, results bonus included in the employment contract).

In the payroll files we review, the at-risk situations are:

• an employer who decides to pay a PPV instead of a pay grid increase already announced to employee representatives;
• substitution for a 13th month salary payment established by company practice over several years;
• the PPV presented to employees as "the annual bonus" when a results bonus agreement already exists.

In the event of a URSSAF audit, reclassification converts the bonus into ordinary wages — with back-payment of contributions, surcharges and late interest.

A services-sector SME (22 employees, no intéressement agreement) wishes to pay a PPV of €1,500 to all staff in June 2026.

Analysis:

• Headcount < 50 employees: transitional regime applies.
• Of the 22 employees, 19 earn below 3 SMIC → full exemption (social contributions, CSG/CRDS, and income tax) within the €3,000 ceiling.
• 3 employees earn above 3 SMIC → exemption from social contributions only; CSG/CRDS and income tax are due.
• Ceiling of €3,000: the €1,500 bonus is within the limit — no excess.
• Employer cost for the 19 employees on the favourable regime: €1,500 gross = €1,500 direct cost (no employer or employee contributions).
• For the 3 employees outside the regime: employer social contributions are also exempt (the PPV is exempt from contributions for all companies), but CSG/CRDS is borne by the employee and income tax is included in their self-assessment declaration.

What the SME must prepare: a DUE dated before the payment, specifying the uniform amount, the June payment date, the scope (all permanent, fixed-term and temporary employees present on the payment date), and the absence of any modulation criterion.

• The favourable transitional regime (income tax and CSG/CRDS exemption in companies with fewer than 50 employees) runs until 31 December 2026. After that date, the PPV will remain exempt from social contributions but will revert to being subject to income tax and CSG/CRDS, unless new legislation intervenes.
• The law of 29 November 2023 introduced the possibility of directing all or part of the PPV into an employee savings plan (PEE, plan d'épargne collectif or PER collectif). In that case, the income tax exemption applies even outside the transitional regime, within the applicable ceiling. This point deserves attention for employees earning above 3 SMIC.
• Systematically check Fillon general contribution reductions: the PPV does not enter the base for calculating the general reduction (réduction générale), but a simultaneous salary increase may change the reduction coefficient and should be modelled accordingly.

For broader payroll and bonus tax questions, see also our article on whether bonuses are taxable in France.

• Confirm the company headcount (< or ≥ 50 employees) to determine the applicable regime.
• Identify which employees earn below or above 3 SMIC.
• Choose the correct ceiling: €3,000 (standard) or €6,000 (intéressement or participation agreement in force).
• Draft the DUE or collective agreement before the payment date.
• Specify modulation criteria in the document if amounts differ between employee groups.
• Verify the absence of substitution for any existing pay element.
• Set up payroll correctly: contribution code, CSG/CRDS base, income tax treatment by employee profile.
• Retain the DUE and the corresponding payslips.

The PPV is a relevant tool for sharing an exceptional result or acknowledging a year's effort without committing to the future. It does not replace a structured remuneration policy. The trade-off depends on the company's context, cash position, HR strategy and employee expectations.

See our full guide on the prime de partage de la valeur PPV 2026 for a deeper analysis of this trade-off.

Looking to implement a PPV correctly before the end of the fiscal year? Our firm reviews your situation, drafts the DUE and secures the payroll and tax treatment.

This article is provided for information purposes only. It does not substitute for a personalised review of your situation, your documents and the law in force at the date of payment. Thresholds and conditions are subject to change — consult official sources or your expert-comptable before making any decision.