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French Steering Committee Begins Work On Tax Reform

by Ulrika Lomas,, Brussels

25 December 2013

The French Government has revealed that the first meeting of the steering committee, tasked with reforming taxation in France, has taken place at the Matignon palace.

Headed by French Prime Minister Jean-Marc Ayrault, the steering committee comprises the French Finance, Budget, Labor, Social Affairs, and State Reform Ministers, as well as the Minister responsible for Parliamentary Relations and the National Assembly and Senate Finance Committee general rapporteurs.

Plans to reform taxation form part of efforts to boost growth, create employment, and increase tax justice in France. Measures implemented by the Government since its took office, as well as initiatives provided for in the National Pact for Growth, Competitiveness, and Employment, including the CICE tax credit for competitiveness and employment, will form the basis on which the reform is built.

The overhaul of the tax system is inextricably linked to savings efforts. The Government said that a just, comprehensible and stable tax system goes hand in hand with the conviction that "every euro spent is a useful euro." The Government has however made it clear that the reforms will not under any circumstances lead to more taxes.

The reform will be transparent, and will examine the realities of the current tax system and the implications of the envisaged changes. Furthermore, the reform will be implemented progressively. By the end of the Government's five-year term in office, savings efforts will allow a reduction in compulsory levies to be realized, which, in turn, will free up the necessary scope for the reform to take hold.

The steering committee intends to set up cross-party working groups, including experts and social partner representatives, to address household and corporate taxation separately, including at local level. Their work will commence at the beginning of 2014. In January, the working groups will analyse imperfections and complexities in the current tax system, and their findings will be published online.

The Government aims to reach key decisions by June 2014. The first wave of measures will then be provided for in the country's 2015 finance and social security finance laws.

TAGS: Finance | tax | law | corporation tax | tax credits | France | tax breaks | individual income tax | Employment

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