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France's President Details Income Tax Cuts For 2016

by Ulrika Lomas, Tax-News.com, Brussels

09 September 2015


France's President, François Hollande, has provided more detail on the nation's planned tax cuts for low- and middle-income households in 2016.

Speaking at a press conference to mark the end of the summer break, Hollande stated that he plans to reduce the rate of income tax for those taxpayers in the first bracket of taxable income, which is currently 14 percent. This would build on the repeal, last year, of the lowest income tax rate band, which had featured a 5.5 percent rate.

Hollande projects that the cuts will benefit around eight million households and will cost EUR2bn (USD2.27bn).

Legislation will be included in the draft Finance Bill 2016, which will be presented to Parliament on September 30, 2015.

TAGS: Finance | tax | tax incentives | tax thresholds | tax rates | France | tax breaks | tax reform | individual income tax

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