Accounting for c.30% of total global tax revenues, what form of tax did France introduce in 1954, W Germany 1968, UK 1973 and China 1984?
Ad valorem tax usually not subject to VAT and VAT charged under such circumstances is usually refundable. Maurice Lauré, joint director of the French tax authority, the "Direction générale des impôts", as "taxe sur la valeur ajoutée" ( in French), was first to introduce VAT with effect from 10 April 1954 for large businesses, and extended over time to all business sectors. In France, it is the most important source of state finance, accounting for approximately 45% of state revenues. A property tax, millage tax is an "ad valorem" tax that an owner of real estate or other property pays on the value
Corporation tax in France Corporation tax in France Corporate tax in France deals with the tax payable in France on the profits earned by companies. In general, any company is subject to 33.3% corporate tax ("Impôt sur les Sociétés") on its worldwide profits. However, certain items of income are exempt from tax and certain costs are non-deductible. Furthermore, the tax rate is planned to be reduced to 28% by 2020. Net corporate tax revenues in 2016 amounted to 30 billion euros (after tax credits & deductions). A company is subject to French corporate tax on profits generated in France, in addition to any profit