When Corporation Tax was first introduced in 1965, what was the basic rate? Was it 20%, 30% or 40% ?
Corporation tax in France €3 billion the rate will be 43.3 %. In 2012 a new tax credit was introduced to make France more competitive. Companies get a tax credit of 7% of total wage & salary costs up to a limit of 2.5 times the minimum salary (in 2017 the minimum salary was €1,460). The effect is to substantially reduce the effective rate of corporation tax. The tax credit amounts to 19 billion euros (about 40% of gross corporate tax take). Certain items of income are exempt from corporate tax: Corporation tax in France Corporate tax in France deals with the tax payable
Advance corporation tax entitled to a refund of the ACT amount. When introduced in 1973, the ACT rate on the gross dividend (the amount distributed plus the ACT withheld) was 30%, the basic rate of income tax at the time. Until 1993 the income tax rate payable on dividends was the same as all other income, and the ACT rate was adjusted to align it to changes in the basic rate of income tax. From April 1993, the ACT rate was cut to 22.5% while the tax rate on dividend income was set at 20%, the first time it was set at a