France Provides SMEs With More COVID-19 Tax Relief Measures
by Ulrika Lomas, Tax-News.com, Brussels
25 June 2020
The French Government has presented to the Council of Ministers a third amendment to the Finance Bill for 2020, which provides additional support for businesses affected by the COVID-19 outbreak.
The bill includes an exemption from employer contributions and social contributions for micro-enterprises and SMEs in the hotel, catering, cultural, events, sports, and air transport sectors. The exemption will also apply to micro-enterprises affected by the lockdown measures, particularly for those in the non-food retail sector.
Additionally, small businesses that have suffered a fall in sales of more than 50 percent may apply for deferment of employer contributions, with deferred amounts to be paid back over 36 months.
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