The French prime minister last week presented to the French National Assembly the first tax measures expected to be implemented in the very near future. These measures would (in all likelihood) be included in the draft Finance Law for 2018, to be submitted to the French Parliament during the fall 2017. Many of the proposals would aim at increasing the competitiveness of the French marketplace.
Among the proposals are measures that would:
One other contemplated reform would be to transform the current CICE regime (a tax credit granted to employers on salaries paid up to a certain level) into a permanent reduction of social charges. It is not currently clear whether this change would be implemented in 2018 or in 2019 (its implementation would result during the year when it becomes applicable in a double public spending, one resulting from the use or reimbursement of the tax credit and the other from a reduction of the proceeds of the social bodies, thus increasing the public deficit which the French state has committed, in application of EU regulations, to limit to 3%).
For more information, contact a tax professional with Fidal* in France or with KPMG’s International Tax Team in the United States:
Gilles Galinier-Warrain | +33 1 55 68 16 54 | firstname.lastname@example.org
Olivier Ferrari | +33 1 55 68 18 14 | email@example.com
Laurent Leclercq | +33 1 55 68 16 42 | firstname.lastname@example.org
Bruno Bacrot | +33 1 46 24 30 30 | email@example.com
Patrick Seroin | +1 (212) 954-2523 | firstname.lastname@example.org
* Fidal is a French law firm that is independent from KPMG and its member firms.
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