Type:
national policies
Year:
2017
Country (if relevant):
France
Journal or media source:
https://www.legifrance.gouv.fr/eli/loi/2017/12/30/CPAX1723900L/jo/texte; http://www.assemblee-nationale.fr/15/pdf/projets/pl0235.pdf
Complete reference:
(2017) French Budget Act 2018 (Loi de finance 2017-1837). Measures to attract the relocation of banks and insurance companies. https://www.legifrance.gouv.fr/eli/loi/2017/12/30/CPAX1723900L/jo/texte; http://www.assemblee-nationale.fr/15/pdf/projets/pl0235.pdf
Abstract:
The French government has included in the Budget Act (Loi n° 2017-1837) some measures aimed to strengthen the positioning of Paris as new financial hub within Europe. More specifically, the Parliament decision promotes the relocation/establishment in France of high value activities belonging to companies not subject to VAT, mainly banks and insurance companies. The law was promulgated on December 30, 2017 and published on December 31, 2017. Article 44 establishes that the additional tax rate for wages higher than 152.279,00 € is reduced to 13,60% (against 20% decided in 2013). At the same time, Article 15 revise the taxation of intra-day financial transactions.
Keywords:
Brexit
Financial services
Insurance
Tax