• Money & Markets
Friday, March 24, 2023
  • Login
No Result
View All Result
NEWSLETTER
Money & Markets
18 °c
Nairobi
18 ° Fri
18 ° Sat
18 ° Sun
18 ° Mon
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
No Result
View All Result
Money & Markets
No Result
View All Result
Home World

Will tax cuts help Hollande?

by Money Markets
June 12, 2020
in World
0 0
0
Will tax cuts help Hollande?
0
SHARES
19
VIEWS
Share on FacebookShare on Twitter

France’s government unveiled Friday plans to lower taxes on households and companies, as the ruling Socialists lined up

their budget for the 2017 election year.

The gesture to households would “take the form of a reduction in income taxes by 20 percent for the middle class,” Finance Minister Michel Sapin told AFP.

Around 5 million households would benefit from the 1-billion-euro ($1.1 billion) reduction in income taxes, worth about 200 euros per family.

Sapin also said that the headline tax rate for small and medium-sized companies would be reduced to 28 percent — the European average in 2017 and 2018 — and for all companies from 2020.

That is a drop from the current headline rate of 33 percent, although small companies benefit from a lower rate on a certain amount of profits.

However Sapin said that despite the tax cuts France would honour its pledge to the EU to reduce its public spending deficit to 2.7 percent of gross domestic product in 2017.

“We’ve made that promise to parliament and EU authorities and we’re going to keep it,” said Sapin.

The announced cuts to  income tax, coming just over seven months from the presidential election, would take the total reduction since 2014 to six billion euros.

Polls show that President Francois Hollande, who has not announced his intentions regarding a run for a second term in office, and other prominent Socialists would face an uphill battle to make it to a runoff vote.

Criticised for sharp tax hikes at the start of his five-year term, Hollande has since turned towards a gradual reduction in tax rates, although the French economy has posted only modest growth and unemployment remains near record highs.

Sapin also announced a change allowing all retirees to deduct expenses for at-home services, a change which should benefit 1.3 million households at a cost of a billion euros.

In addition, Sapin announced an increase in the tax credit for companies with low-wage employees, which he said would put an extra 3.3 billion euros in their accounts.

Courtesy of www.thelocal.fr

Tags: HollandeTax
Money Markets

Money Markets

Next Post
Stock price drops as Eveready seeks shareholders approval for land sale

Stock price drops as Eveready seeks shareholders approval for land sale

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Latest Articles

  • Zipline Unveils New Autonomous System Capable of Quiet, Fast and Precise Home Delivery
  • Kenya’s mobile phone subscription hits 65.7 million
  • Integrating Traditional Medicine into Health Care Systems Key to Attaining Universal Health Care
  • Nordic microfinance initiative re-brands to Abler Nordic and announces new funding for investment in Sub-Saharan Africa  
  • CENSA, WayCool Foods’ tech arm aims to pioneer a revolution in Africa’s food supply chain
  • OPPO Reno 8T Series with first-ever 108MP Unveiled with sensational O-Stars
  • COVID Safety Influences Choice of Travel Destination in Post-pandemic Era
  • Zipline successfully completes Kisumu test flight ahead of Commercial Launch of its Operations in Kenya
  • Standard Chartered advises investors to “play It safe” in its global economic outlook report
  • Renewable energy key to powering sub-Saharan Africa’s Health Sector

TOP SEARCHES

acquisition AfDB Africa Airtel Banks brexit CBK Central Bank Central Bank of Kenya China COVID-19 dividends energy Equity Bank Equity Group Equity Group Holdings Finserve High Court ICT Imperial Bank Insurance interest rates Jambojet Jumia KCB KDIC KenGen Kenya Kenya Airways KRA M-Pesa MD mKey MPesa NSE Patrick Njoroge profit profits Safaricom shareholders shares SMEs StarTimes Tanzania Uhuru Kenyatta




  • Money & Markets

© 2020

No Result
View All Result
  • Money & Markets

© 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In