{
  "title": "France: Selected Issues",
  "publication": "IMF Staff Country Reports, September 21, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/09/21/france-selected-issues-45271",
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  "summary": "This paper focuses on the corporate income tax (CIT) regime that features a high statutory rate but low revenue productivity, as well as a bias toward debt financing, ineffective size-dependent regimes, and inefficient tax incentives. Profit-insensitive taxes are comparatively high.",
  "publishDate": "2017-09-21",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Corporate income tax (CIT) — findings",
      "content": "- The CIT regime features a high statutory rate but low revenue productivity.\n- There is a bias toward debt financing.\n- Size-dependent regimes are ineffective.\n- Tax incentives are inefficient.\n- Profit-insensitive taxes are comparatively high.\n- Anti-tax-avoidance rules are strong, but risks to outbound profit shifting remain.\n- Tax uncertainty is a concern."
    },
    {
      "heading": "Taxation of individuals — findings",
      "content": "- The system of taxing wealth and capital income is complex.\n- There are distortions from differential taxation across savings instruments."
    },
    {
      "heading": "Government reform plans (as described)",
      "content": "- Reduce the CIT rate.\n- Further cut the labor tax wedge.\n- Unify taxes on capital income.\n- Narrow the wealth tax."
    },
    {
      "heading": "IMF staff analysis and policy recommendations",
      "content": "- Complement the government’s planned reforms with measures to:\n  - Remove inefficient tax incentives.\n  - Further reduce the debt bias.\n  - Address disincentives to company growth.\n  - Streamline the taxation of long-term savings.\n- These complementary measures could enhance the reforms’ impact on competitiveness, revenues, and growth.\n\nSource: France: Selected Issues (IMF Staff Country Reports 2017, 289).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/09/21/france-selected-issues-45271"
    }
  ],
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    "[Markdown version](/en/publications/cr/issues/2017/09/21/france-selected-issues-45271/index.md)",
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    "Published: September 21, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484320334.002",
    "The CIT regime features a high statutory rate but low revenue productivity.",
    "There is a bias toward debt financing.",
    "Size-dependent regimes are ineffective.",
    "Tax incentives are inefficient.",
    "Profit-insensitive taxes are comparatively high.",
    "Anti-tax-avoidance rules are strong, but risks to outbound profit shifting remain.",
    "Tax uncertainty is a concern.",
    "The system of taxing wealth and capital income is complex.",
    "There are distortions from differential taxation across savings instruments.",
    "Reduce the CIT rate.",
    "Further cut the labor tax wedge.",
    "Unify taxes on capital income.",
    "Narrow the wealth tax.",
    "Complement the government’s planned reforms with measures to:",
    "These complementary measures could enhance the reforms’ impact on competitiveness, revenues, and growth.",
    "**Country Report**"
  ],
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