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France Announces COVID-19 Tax Support For Wine Industry

by Ulrika Lomas, Tax-News.com, Brussels

15 May 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.

TAGS: tax | small business | business | tariffs | social security | France | trade | Europe

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