25% income tax reduction on consumer loan interest (2004-2005)
Article 2 of the Act of 9 August 2004 creates Article 199 vicies of the General Tax Code: taxpayers resident in France receive an income tax reduction equal to 25% of the interest paid in 2004 and 2005 on consumer loans (excluding overdrafts) taken out between 1 May 2004 and 31 May 2005, with interest counted up to €600 a year. The funds must be used within two months to buy tangible movable goods or a service. Decree No. 2004-1000 of 21 September 2004 sets the implementing rules.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
A taxable household that took out a consumer loan between 1 May 2004 and 31 May 2005 deducts from its tax 25% of the interest paid in 2004 and 2005, with interest counted up to €600 a year.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Publication in Official Journal
President of the Republic signature
Publication au Journal officiel
Possible referral to Constitutional Council
Décision de conformité / censure partielle
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration