In a decision of January 14, 2022 (Cons. const. 14-1-2022 n° 2021-962 QPC), the French Constitutional council validates the provisions leading to the immediate taxation of the totality of the capital gain realized at the time of a transfer of securities by means of a vendor credit, even though a part of the transfer price has not yet been paid. In application of the provisions of articles 150-0 A and following of the CGI, the transfer for valuable consideration of the securities of a company generating a taxable capital gain must be considered as the date on which the transfer (...)