The tax loopholes enjoyed by the French insurance sector will be planed to the tune of three billion euros, said Monday the Minister of Economy and Finance, Christine Lagarde.
She detailed LCI measures taken in three directions, according to what was announced by the Prime Minister.
In the morning on France Inter, Francois Fillon had said, about the reduction of tax loopholes in the budget 2011: "There will be a number of measures on the insurance because there are a number of anomalies, including differences in taxation depending on the product.
First target, according to Christine Lagarde: the insurance system "responsible and solidarity" enjoyed each other.To accelerate the launch in 2005, the government decided to exempt from the tax on insurance contracts.
"Now it is legitimate to raise the tax on insurance contracts in this sector one, which reported a good success," said Christine Lagarde. "They want special treatment, so it is 3.5% instead of 7%.
Estimated gain for the state, according to Les Echos on Tuesday: 1.1 billion euros.
Second area covered: the life insurance contracts multichannel, consisting of stocks and bonds, for which the payroll taxes are currently levied at the time of finalizing the contract.
"There is no reason to exempt each year.So we go, over water, apply the CSG, the CRDS on these contracts there instead of postponing the imposition of term contract, "said Christine Lagarde.
This device represents a "gain of $ 1.6 billion cash for the state," according to Les Echos.
Another project announced by the Minister of corporation tax will be levied on capital reserves established by insurance companies since 1973 to cope with fluctuations in interest rates.
"This tax will reach 10% over two years, a revenue of 1.4 billion euros for the state," writes Les Echos.
Christine Lagarde reiterated its intention to preserve the tax loopholes supporting employment, innovation and vulnerable population.
"I have said several times that I did not want it removed, planed that the tax benefits is to support employment, or to groups with particular difficulties, or support for innovation companies, "she said.
"We must check the niches that would make windfall every time there is abuse, it will plane if necessary," she also said about a niche for large groups to optimize the sale of their subsidiary.