New tax measures to reduce public deficit – announced

On 7 November 2011, the Government announced new tax measures that would be submitted for discussion to the Parliament before the end of the year. Key elements are summarized below.

Corporate taxation

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Companies whose annual turnover exceeds EUR 250 million would pay an additional level equal to 5% of their assessed corporate tax (impôt sur les sociétés). This measure would be applied in 2012 and 2013.