Parliament has completed its special session Tuesday evening, by adopting the final amended budget for 2012. The text contains no less than 7.2 billion of new taxes by the end of the year. It also provides for an effort on state spending, far more modest (1.5 billion euros) but sometimes highly symbolic, for example with the 30% drop in the compensation of the President of the Republic and the Prime Minister .
Of penalty rates on golden parachutes and-hat
Curiously, the government had not thought himself to be included in this first draft budget of the legislature, measures aimed specifically at "big bosses". The Socialist and Communist senators took care of that. They decided to add significantly to the tax-hat – including those in progress – and golden parachutes. Liquidated for pensions from 1 January next year, payroll taxes are dramatically doubled.
Already significantly increased by the right, these samples become prohibitive. What is the purpose served by the new majority.
Moreover, the taxation of stock options and free share distributions has been strengthened, on a proposal from the government.
Banks and oil companies in the viewfinder
If the majority of tax increases of the collective burden on households, businesses – primarily banks and oil companies – will also undergo a series of new taxes and surtax. These include the creation of a 3% tax on dividends (SMEs will be exempt, as are stock dividends) of 2.5 times the social package of employee savings , enlargement of the systemic risk tax on banks and the introduction of a tax on oil inventories (these two taxes are not deductible for corporation tax). The tax on financial transactions, created by Sarkozy, is doubled and this applies from 1 August. It should be noted further technical measures against tax havens and tax optimization. Simple but very profitable: the Parliament voted early payment of the surcharge IS Fillon (+ 5%): 800 million euros.
The ISF will bring more revenue to the state than ever
For 30 years, the ISF – created in 1982 by Pierre Mauroy – will break all records! Not only the new majority reversed relief introduced in the previous legislature (1.8 billion euros extra) but it has set no cap mechanism as had been discussed during the presidential campaign: the "outstanding contribution" to pay in 2012, equivalent to the difference between the TFR in 2011 – before debt relief – and relieved the 2012 ISF. An invoice totaling $ 2.3 billion will happen in the fall in taxpayers' mailboxes at the head of a heritage of over 1.3 million euros. For the 29,000 holders of assets in excess of 4 million, it will increase by 22% of ISF, compared to what it should be with the current rates until 2011, and even a virtual doubling of the tax from the ISF lightened version of Sarkozy. An addition salt which will be payable in November … unless the Constitutional Council ruled in the UMP which is about to enter the grounds that the surcharge would be "confiscatory." A total of Bercy could reap some 5 billion euros under the ISF this year. Almost a jackpot when you consider the 3.7 billion reaped three years ago. The government then promised to reform "sustainable" in the TFR in the draft budget for 2013.
• Culture, Social
A tax Bolloré and baissede VAT on entertainment
Nod to the cultural backgrounds: VAT on books and the performing arts returns of 7% to 5.5%. In addition, up 1.6 percentage points of VAT (called "social VAT"), scheduled for October by the previous majority, is canceled.
However, increases in payroll taxes on savings, which were passed along with the social VAT, are maintained. The collective is the tax on vacant units and a tax on the resale of DTT channels acquired at no cost – an amendment proposed by the deputies and that relates directly to the sale of Direct 8 Direct Star by the Bolloré Group, Canal +.
Non-residents who sell their property in France will also be subject to social security. Undocumented migrants who are treated for free in France with the help of State Medical (MTA) will be exempted from stamp duty of 30 euros per year.
Exemptions under généreuseset less frequent
It was "the" psychodrama of the supplementary budget. The heavier duty on gift and inheritance in direct line wanted by the government would perhaps be extended to direct mutations offline, that is to say, between brothers and sisters, uncle and nephew, etc..? That's what defending the socialist senators, on behalf of "coherence". But the "recovery in righteousness" has its limits: Bercy noted that elected officials are involved (almost € 16,000 between siblings, nearly 8000 € for nephews) were not worth the candle of the unpopularity even for a … expected gain of 230 million euros. Nevertheless, the Parliament has lowered from 159,325 to 100,000 euros per child amount of gift and inheritance tax-free and every two years instead of every ten years ago. The measure will be effective upon enactment of the law. Full year, Bercy expects 1.22 billion euros.
The end of "work more to earn more"
The device embodied the "work more to earn more", by which Nicolas Sarkozy was elected. Since late 2007, overtime was totally exempt from payroll taxes and income taxes. After a slow start, the mechanism was increased in intensity and eventually benefit about 9.5 million people last year. Its removal will lead to additional load of about 450 euros per year per household. For the state, it is a wealth of 3 billion that will go into its coffers. Only remain the exemption of employers' contributions for firms with fewer than 20 employees. Parliamentarians have procrastinated on the entry into force of this repeal, arguing the deputies at a time for an application retroactive to January 1, sparking an outcry in the UMP, before proposing on July 1. "We managed to save six months to the employees concerned", was consoled the former UMP minister of Labour Xavier Bertrand, who said "half a scandal still a scandal." The Government has decided: it will be finally on September 1.
"MEPs adopt an amending budget 2012
"The tax exemption for" overtime "is repealed
"The deputies repeal the social VAT
"The ISF will be even heavier than expected
"The main measures of the supplementary budget