France - The French Local Business Tax Reform: Myth and Reality
- E. Robert
- European Taxation, 2010 (Volume 50), No 8
- 17 June 2010
With effect from 1 January 2010, the French government has reputedly “abolished” the controversial tax on notional income of a business, i.e. the local business tax. With EUR 34 billion in annual proceeds, this tax represented around 43.9% of local government resources, and resulted in more revenue than corporate income tax. A thorough understanding of the reform is, thus, essential for any potential investor.