More than 1.3 billion euros in savings will be realized in 2020 thanks to a reduction of tax loopholes for companies and a slower tax cut than expected for large groups, announced Thursday the Ministry of Finance. Economy.
In detail, the tax loopholes for companies will be planed by 615 million euros while slower tax cuts than expected for large companies will bring 700 million euros more to the state, said Bercy. Among the tax loopholes, non-road diesel will gradually disappear its reduced taxation, with a first increase in taxes on 1 July 2020, the next two to occur on January 1, 2021 and January 1, 2022. The reduced tax GNR to agriculture and rail transport is maintained.
A decision "consistent with the desire to accelerate the energy transition of France"
Economy Minister Bruno Le Maire told the National Assembly Thursday that the tax increase would bring "a little more than 200 million euros by 2020", which is "consistent with our desire to accelerate the transition of France ". He pledged support to companies, including "financial incentives to acquire less polluting equipment" and "derogation measures for companies most exposed to international competition". Provisions to reduce tax incentives for corporate philanthropy still need to be detailed, but small businesses will be spared.
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Regarding sponsorship, there are "some windfall effects", according to Bruno Le Maire, which intends to limit the tax advantage of large companies. He announced "consultations", after which this measure will be specified and quantified.
The research tax credit, which costs more than 6 billion euros, is maintained but the operating costs will be able to reach a maximum of only 43% of the sums spent on research, against 50% so far. A measure that will be voted this year and will bring some 200 million euros in 2021.
Finally, the specific lump sum deduction will be reduced. It consists of an abatement of employers' expenses reserved for certain sectors of activity (construction, aviation, cleaning ...) and is evaluated by Bercy at 1.5 billion euros. In total, budget spending is expected to grow by 4.6 billion euros in 2020 while the savings target is in the order of 6 billion euros, according to Bercy. These budget orientations for 2020 are in line with the government's economic forecasts, says the same source.
"Despite the decline in global growth, French growth is resilient", supported by the dynamics of investment, consumption and exports, according to Bercy.