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France Targets €8 Billion in Savings by Cutting 10% of Fiscal Exemptions

Public Accounts Minister Amélie de Montchalin announces plans to review 467 tax niches, eliminating outdated exemptions to streamline the fiscal system and reduce taxes.

Overview

  • Amélie de Montchalin, France's Minister of Public Accounts, has proposed cutting 10% of the country's 467 fiscal niches, aiming to recover €8 billion for the state.
  • The initiative seeks to phase out tax exemptions deemed outdated or benefiting only a small number of individuals, some with fewer than 100 beneficiaries.
  • The total cost of these fiscal niches is estimated at €85 billion, with the government emphasizing fiscal consolidation without raising taxes.
  • Savings from the cuts could potentially fund tax reductions for the broader public, aligning with the government's commitment to equitable tax policy reforms.
  • Key exemptions for essential services, such as childcare, elderly care, and home services, will remain unaffected to protect social equity.

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