France unveils 20bn euro business tax break

France on Tuesday unveiled a 20 billion-euro tax break for companies in a bid to address flagging competitiveness.

The move was approved by the government a day after a report called on the Socialist administration to slash payroll taxes by 30 billion euros (HK$295 billion) within two years.

The government signalled that easing a business tax burden that is considered a barrier to job creation would be financed by a combination of cuts in public spending and an increase in Value Added Tax (VAT).

via Business feed http://www.scmp.com/business/economy/article/1076396/france-unveils-20bn-euro-business-tax-break