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France Phases Out Fuel Tax Cut

by Ulrika Lomas, Tax-News.com, Brussels

05 December 2012


France has begun to phase out the temporary fuel tax reduction currently benefiting motorists.

Given the soaring prices at the pump, the French government decided at the end of August to reduce the price of fuel by up to six cents a liter for a period of three months. Consequently, the government cut the tax on fuel by three cents per liter, while the petroleum industry was persuaded to cut retail fuel prices by a further three cents per liter.

However, from December 1 the tax cut has been reduced to two cents a liter and will be fully phased out by January 11, 2013.

It was estimated back in August that the tax cut would cost the French government EUR300m (USD400m) in lost tax revenue.

TAGS: tax | energy | oil and gas | France | tax breaks

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