Sarkozy confirms tax increase

Sarkozy confirms tax increase


 

On 3 January, France’s President Nicolas Sarkozy said his country will soon see an increase to the national rate of value added tax and a reduction to the mandatory social security contributions paid by employers.

The VAT rate increase is aimed at raising extra revenues which will be used to fund Frances’ troubled social security system, and the extra surplus will allow the French government to reduce the rate of employers’ payroll contributions. In a speech g...


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