Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

France plans to scrap 1 billion euros of tax breaks for companies

Published 06/16/2019, 11:40 AM
Updated 06/16/2019, 11:40 AM
© Reuters. Gerald Darmanin, French Minister of Public Action and Accounts, attends a news conference on tax collection reform at Bercy Finance Ministry in Paris

PARIS (Reuters) - France plans to scrap 1 billion euros ($1.1 billion) of tax breaks for companies to help fund a pledged 5-billion-euro reduction in personal income taxes, Budget Minister Gerald Darmanin said on Sunday.

The government will finance the remaining 4 billion euros through lower spending, Darmanin said during an interview for the Grand Jury show with reporters from LCI television, RTL radio and Le Figaro newspaper.

Darmanin said 95% of taxpayers would see a reduction in their income taxes from January.

In his response to months of anti-government protests, French President Emmanuel Macron said in late April he would cut income tax by a further 5 billion euros.

The planned reduction came on top of a 10 billion-euro package of concessions to protesters in December aimed at boosting the income of the poorest workers and pensioners.

© Reuters. Gerald Darmanin, French Minister of Public Action and Accounts, attends a news conference on tax collection reform at Bercy Finance Ministry in Paris

Latest comments

socialist government buys votes
And corporations buy capitalist governments.
 scary stories from communist dungeons
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.