French Prime Minister Jean-Pierre Raffarin confirmed on Wednesday that the government intends to phase out the 3% business tax surcharge over a two year period.
The so-called "surtaxe Juppé", which was introduced in 1995 by Alain Juppé's RPR-UDF government, was originally levied at a rate of 10%, and was reduced to its current level over a number of years.
Speaking following a meeting with the Prime Minister, Jean-Francois Roubaud, president of SME industry body the Confédération Générale des Petites et Moyennes Entreprises (CGPME) explained that the move was intended to compensate French businesses for the reduction in relief for employers charges.
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