An exceptional tax on large groups is being considered by the Prime Minister.
An exceptional levy of eight billion euros on large groups and a tax on share buybacks are among the measures envisaged by the French government to reduce public deficits, the daily Le Monde reported on Sunday.
The new Prime Minister Michel Barnier must make his general policy declaration on Tuesday while France must have the 2025 budget adopted in Parliament before the end of the year.
To reduce an abysmal public deficit – expected at more than 6% of GDP in 2024 – among the projects examined by the executive in recent days “include a levy of eight billion euros on large groups, a tax on buybacks of “shares and stability of income tax”, writes Le Monde.
According to Le Monde, Bercy is indeed considering an “exceptional contribution on the profits of large companies”, as had already been done in 2017. Targeted groups should pay a surcharge of 8.5% percentage points, indicates the evening daily. “Or a total taxation of 33.5%, equivalent to the normal rate in force between 1993 and 2017, before the tax cuts desired by Emmanuel Macron to improve the competitiveness of businesses.”
The daily adds that the government does not rule out quickly presenting a draft amending finance law, to adopt tax measures applicable by the end of the year.
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