Creation of a 7% reduced VAT rate
The fourth amending finance law for 2011 raises from 5.5% to 7% the reduced VAT rate applying in particular to restaurants, home renovation works, passenger transport, accommodation, shows and books. The 5.5% rate is kept for water and food products (with exceptions), equipment for disabled people, electricity and gas subscriptions, renewable heat, accommodation in care homes, services for dependent people and school canteen meals.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
Affects consumers of goods and services moved to 7%. Applies to transactions on which VAT is chargeable from 1 January 2012, from 1 April 2012 for books; transitional rules for social housing and for works quoted and paid a deposit before 20 December 2011. Rate raised to 10% on 1 January 2014.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)
Council of Ministers
Validation interne