Overall cap on tax breaks lowered to €18,000 plus 4% of taxable income

Article 84 of the 2012 Finance Act reduces from 6% to 4% of taxable income the proportional part of the overall cap on the tax benefit from certain income tax reductions and credits (Article 200-0 A of the General Tax Code), the fixed part remaining €18,000. The measure applies from the taxation of 2012 income, for benefits relating to expenses paid and investments made from 1 January 2012, except commitments made before that date. It results from an amendment adopted in the National Assembly.