France to cut corporate taxes by 20 billion euros over two years

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FILE PHOTO: Bruno Le Maire, French Minister for the Economy, Finance and Recovery, attends a handover ceremony at the Bercy finance ministry in Paris, France, July 7, 2020. REUTERS / Gonzalo Fuentes

PARIS (Reuters) – The French government will cut French corporate taxes by 20 billion euros ($ 22.8 billion) in addition to the normal corporate tax over the next two years, the minister said on Wednesday. Finance Bruno Le Maire.

“It will be a massive cut, twice 10 billion euros – 10 billion in 2021 and 10 billion euros in 2022,” Le Maire said on France 2.

“Producing in France will be cheaper, it’s as simple as that,” he added.

Report by Leigh Thomas and Bertrand Boucey; edited by Jonathan Oatis

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