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France Announces COVID-19 Tax Support For Wine Industry

Friday, May 15, 2020

On May 11, 2020, the French Government presented a COVID-19-related economic support package targeted at the nation's wine industry, which includes relief from social contributions.

Following a videoconference between Government ministers, three specific measures were announced to support the wine sector, including social security contribution exemptions for small and very-small businesses.

The other non-tax features of the package include a EUR140m (USD152m) fund (partly funded by the European Union), and a request for a compensation fund to be establised at EU level.

In addition to COVID-19, France's wine industry has been negatively affected by US tariffs on imports of French wine imposed as part of the ongoing trade dispute between the EU and US over aircraft subsidies.