Sarkozy hands business €10bn tax cut

Article reports that French companies would get a €10bn tax cut in the 2010 budget one of the biggest structural reforms since Nicolas Sarkozy came to power in 2007.

The French government announced on the 30 September 2009 the partial scrapping of the taxe professionnelle, a local business tax levied on fixed investment that has become a heavy burden, particularly for manufacturing companies, as part of the 2010 budget.

ESO: Background information: French tax bid to boost industry http://www.europeansources.info/record/french-tax-bid-to-boost-industry/

Wikipedia: Taxe professionnelle http://fr.wikipedia.org/wiki/Taxe_professionnelle

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