Sunday , October 17 2021

Taxation: how to finance 5 billion euros of tax reduction?




Taxation: how to finance 5 billion euros of tax reduction?

This is the real good news that Philippe should not hesitate to call back on Wednesday. On the occasion of his general political statement, the Prime Minister will return "largely", says Matignon, on the reduction of 5 billion euros in income tax announced by Emmanuel Macron in the result of the great national debate to put an end to "fiscal exasperation "of the French. This average decline of 300 euros per household should benefit from taxpayers starting January 1, 2019, and Edward Philippe should specify in his speech who will have to put in the pot to offset this tax expense. In early May, Minister of Public Accounts Gerald Darmanin assured us in our columns that the government could count on three avenues of savings, such as the extension of working hours, the economy in public spending and fiscal loopholes. Hunting for fiscal loopholes is open. The government, therefore, has revised the tax loopholes dedicated to companies with the objective of finding 1.5 billion euros. At the beginning of May, the French Federation of Buildings (FFB) – whose removal of the tax benefit on non-road diesel (GNR) would cost 750 million euros per year to the sector – was received in Bercy. "We are potentially in the limelight and we know this," said FFB President Jacques Chanut. We are open to discussion but we want this to be done in stages. "Corporate philanthropy would also be in the sights of the government, today" tried to raise 100 million euros in this tax niche, "worries a connoisseur of the process. 40%, at least for the largest …

Read the rest of the article on Le Parisien.fr


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