The government will increase the various income tax brackets by 4.8% in 2024, Minister of the Economy and Finance Bruno Le Maire announced on Tuesday. He also confirmed a “taxation of excess profits” made by motorway companies.
The Minister of Economy and Finance Bruno Le Maire confirmed Tuesday September 12 on LCI that the 2024 budget would include taxation of surplus profits carried out by highway companies. Without going into details.
Failing to completely eliminate the second half of the CVAE, a production tax weighing on businesses, Bruno Le Maire confirmed that one billion (out of four remaining) would be eliminated next year. He also announced the removal of the minimum contribution of 63 euros to the CVAE which weighs on some 300,000 companies, mainly VSEs and SMEs.
Bruno Le Maire also insisted on the fact that not one euro from the gradual elimination of the tax loophole on the GNR (non-road diesel) used by farmers and public works industrialists would not go to the State. These sums will be reinvested in supporting ecological transformation for agriculture, and the purchase of electrical machinery, particularly for construction.
He also announced an agreement with these two sectors to jointly finance a sector of biofuel. The tax advantage will be reduced gradually, insisted Mr. Le Maire, by 2.8 cents per liter each year from 2024 to 2030.
The minister finally clarified that the negotiations between manufacturers and distributors of food should end on January 15, instead of March, in 2024, and wondered whether more regular negotiations would not be necessary. He also announced that he would contact the Minister of Agriculture Marc Fesneau with the observatory of price formation and margins to ensure that the margins of agricultural producers are well protected.
Tax rate: +4.8%
The government will index the income tax rate to inflation. The Minister of Economy and Finance, Bruno Le Maire, announced this Tuesday on LCI that the thresholds for the different tax brackets will all be increased by 4.8% in 2024. Objective: to avoid penalizing French people who have benefited from salary increases to cushion the shock of inflation.
Income tax: here is the future 2024 rate following indexation announced at 4.8%
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