Tax & Accounting Blog

France – Second Amending Finance Law for 2012 adopted by Council of Ministers

Indirect Tax, ONESOURCE, VAT Tax Rates July 13, 2012

Legislation is currently being discussed by the French Parliament that would reverse the previously planned VAT rise. The Second Amending Finance Bill for 2012, which was adopted by the Council of Ministers on 4 July 2012, is scheduled for parliamentary discussion on 16 July 2012. If the Bill passes, the previously planned increase of the standard VAT rate from 19.6% to 21.2% will not be implemented. In addition the VAT rate on books would be reduced from 7%  to 5.5% effective 1 January 2013.