The French tax authorities have announced that the deadline for payment of corporate income tax has been extended to May 15.
The 2017 tax bill in France will introduce a new regime of employment-tax withholding and will take effect January 1, 2018.
Prior to the New Year, the Amending Finance Bill for 2015 was submitted. Its key areas of focus are changing the current withholdings tax law and the participation exemption on dividends, and addressing innovation incentives granted to SMEs.
France is one of the few countries that does not place a responsibility on the employer to withhold income tax from an employee’s salary (Only social security contributions are administered and remitted by the employer). But France is seeking to change its system to bring it in line with other countries. French authorities took a further step in this direction on June 17 when the Ministry of Finance announced that a new pay-as-you-earn (PAYE) system will be introduced in 2018.