left-wing MPs push by way of a tax on superdividends | EUROtoday

On Thursday, November 7, the National Assembly adopted a tax on superdividends from very giant corporations. These socialist, “rebellious”, communist and environmentalist amendments have been extensively adopted (145 votes for, 37 towards), due to the addition of the votes of the left and the National Rally (RN), towards these of the federal government camp.

This extra tax issues corporations which have a turnover higher than or equal to 1 billion euros and which distribute dividends exceeding by 20% the common of dividends distributed over the earlier 5 years. The fraction which exceeds this 20% is then taxed at 5%.

According to the socialists, this tax goals “the very large companies which have benefited from the succession of crises” and continued to “paying dividends at record levels”citing particularly “BNP Paribas, Sanofi, Axa, LVMH or Total”. Superdividends “only serve to inflate financial bubbles and enrich a few”defended MP Aurélien Le Coq (La France insoumise) in the course of the debates.

Macronist MP Pierre Cazeneuve deplored a measure more likely to penalize shareholders and French corporations in a globalized system. Businesses “will pay more dividends to ensure the same return to their shareholders and therefore invest less”producing “the exact opposite”he additionally pleaded.

“Euro-incompatible” amendments

The basic funds rapporteur, Charles de Courson, issued an unfavorable opinion, arguing {that a} related measure adopted in 2017 had been annulled after notably an attraction to the European Court of Justice: “These amendments are Euro-incompatible, we can regret that,” however, “if you vote for it, it will happen again” the identical.

A threat for which the “rebels” say they’re ready: “we assume disobedience” in the direction of the European Union, affirmed Eric Coquerel throughout a press convention. The president (LFI) of the finance committee claimed in passing the actual fact of “tackling the a whole bunch of billions [d’euros] of surplus gathered by capital » because the election of Emmanuel Macron in 2017.

In the identical vein, the deputies additionally adopted an LFI modification aimed toward making the cost of the analysis tax credit score (CIR) conditional on the prohibition, for an organization, of relocating its actions for ten years.

At the beginning of the night, the Assembly voted to exempt from property tax the premises of associations acknowledged as being of public utility working within the social area. An modification carried by the Socialist Party (PS), towards the recommendation of the federal government. Green gentle additionally for the extension of the tax on industrial premises to large warehouses – with the e-commerce sector within the crosshairs. Earlier, a number of tax measures encouraging agricultural companies to undertake extra sustainable working techniques had been handed.