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France To Flesh Out Tax Cut Plans In June

Friday, May 10, 2019

French Prime Minister Edouard Philippe announced on April 30, 2019, that plans for reductions in personal and corporate income tax will be released by the Government in June 2019.

The announcement comes after President Emmanuel Macron pledged recently to introduce EUR5bn (USD5.6bn) worth of tax cuts in response to the gilet jaunes protests.

Macron said that he would "significantly" reduce income tax, with the tax cuts to be funded in part by the removal of tax loopholes for companies.

In his presentation, Philippe also revealed that proposals for reform of the unemployment insurance system will also be presented in June. Additionally, this month, the Court of Auditors will be tasked with studying the extent to which taxes are being evaded in France, with the court to submit new anti-tax avoidance proposals to the Government in October 2019.