local governance Archives - IREF Europe https://en.irefeurope.org/tag/local-governance/ Independent research and policy analysis on fiscal, monetary, and regulatory issues in Europe Wed, 08 Mar 2023 09:00:23 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://en.irefeurope.org/wp-content/uploads/sites/3/2026/04/IREF-LinkedIn-Profile-DarkBlue-scaled.png local governance Archives - IREF Europe https://en.irefeurope.org/tag/local-governance/ 32 32 Abolition of the Business Tax in France https://en.irefeurope.org/news/article/abolition-of-the-business-tax-in-france/?utm_source=rss&utm_medium=rss&utm_campaign=abolition-of-the-business-tax-in-france Thu, 12 Nov 2009 17:15:48 +0000 https://en.irefeurope.org/publications/other-publications/news/abolition-of-the-business-tax-in-france/ France’s Draft 2010 Finance Bill provides for the abolition of the Business Tax, which is perceived by local communities and currently accounts for 10% of their revenues. Called by François Mitterrand “the idiot tax”, the Business Tax is the main local tax, paid every year by nearly 2,9 mln of companies. It is based on the investment in equipment done by local firms (the basis of the tax is the rental value of a company’s tangible fixed assets) plus 1.5% tax on the value added for companies with a turnover exceeding 7.5 mln €.

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