Executive stays on budget for 2019 thanks to good tax revenues

Executive stays on budget for 2019 thanks to good tax revenues

The amending finance bill presented on Thursday confirms the objective of a deficit of 3.1% of GDP this year. The executive saves less than expected, but compensates with dynamic tax revenues and lower debt costs. The High Council of Public Finances considers this objective “plausible”. A priori, nothing has changed on the horizon. The amending finance bill (PLFR) for 2019, which will be presented this Thursday by the government, resumes the forecasts put forward for…

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Strikes in shops: Bruno Le Maire says he is ready for tax concessions

Taking advantage of the opening of the sales, the Minister of the Economy said he was ready for tax relief measures for the traders most affected by the strikes against pensions. A request formulated in particular by the Alliance du commerce and by the Medef. “No business should close because of strike movements.” On the occasion of the launch of the winter sales at Galeries Lafayette in Paris, the Minister of the Economy Bruno Le…

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Why Google ended up bending to the French state

Why Google ended up bending to the French state

After its victory before the administrative court and on appeal, Google appeared to be in a strong position in its standoff with the French state. The group was however under the threat of a decision of the Council of State which could have overturned these decisions and concluded to the existence of a permanent establishment in France. The transaction validated this Thursday by the Paris tribunal de grande instance marks the end of a standoff…

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Budget: the tax litigation bill is on the rise

Budget: the tax litigation bill is on the rise

The cost of serial litigation is estimated at 2.35 billion euros for 2020. After the 3% tax on dividends two years ago, the State suffered new convictions which will require it to reimburse taxpayers. It is now a line of the state budget closely monitored by parliamentarians. Since the case of the 3% tax on dividends, which forced the State to urgently reimburse 10 billion euros to companies two years ago, the so-called serial tax…

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How Bercy wants to boost the equity capital of SMEs

How Bercy wants to boost the equity capital of SMEs

An article of the finance bill proposes to neutralize the revaluations of companies’ assets for tax purposes. What to help those who seek bank financing. This is one of the articles that went relatively unnoticed in the 2021 finance bill, but which could make the difference for SMEs lacking equity and in search of financing: the tax neutralization of the free revaluation of assets. Until now, a company could revalue an asset upwards but then…

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Tax fraud: the Constitutional Council validates the opening of the “lock of Bercy”

Tax fraud: the Constitutional Council validates the opening of the “lock of Bercy”

The Wise consider that the criteria for the automatic transmission of tax fraud cases to the Public Prosecutor’s Office, created in the fraud law of 2018, do not create a breach of equality before tax. This decision follows an appeal by Afep reflecting the concerns of the business community about the penalization of tax adjustments. The new “Bercy lock”, relaxed in the fraud law of October 2018, received a blank check from the Constitutional Council….

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Tax evasion: Bercy’s new wealth of information on foreign bank accounts

Tax evasion: Bercy’s new wealth of information on foreign bank accounts

Since the entry into force of the automatic exchange of information, the tax authorities have received information on 3.5 million foreign accounts held by French taxpayers. 86 countries transmitted data, including Switzerland, Luxembourg and tax havens such as Panama or the Cayman Islands. Tax transparency, information exchange, reporting by country … For ten years, international cooperation in the fight against tax evasion has given rise to new tools. What results do they produce, once in…

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The State wants to better remunerate the “informers” of the tax authorities

The State wants to better remunerate the “informers” of the tax authorities

The Finance Committee of the Assembly will examine at the beginning of November several amendments strengthening the status of tax advisers. Socialist deputy Christine Pires-Beaune will propose removing the ceiling of 1 million euros from their remuneration. The finance bill will once again provide an opportunity to improve its tools for combating fraud. During the examination of the second part of the text at the beginning of November, the Finance Committee of the Assembly will…

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