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France - The French Local Business Tax Reform: Myth and Reality

Country:
France
Author:
E. Robert
Issue:
European Taxation, 2010 (Volume 50), No 8
Published:
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.
 
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