French lawmakers vote special tax on dividends of large companies making windfall profits

PARIS, Oct 13 (Reuters) – Lawmakers in France’s National Assembly late on Wednesday voted in favour of an amendment which would raise taxes on dividends paid out by large corporations to their shareholders after making extraordinary profits.

The amendments, which won’t become formal law before a final vote on the whole 2023 fiscal law in both houses of Parliament, was voted by lawmakers from the left, far-right, but also by some allies of French President Emmanuel Macron’s centrists.

The new tax would put a 35% charge on dividends paid by large companies which made more than 750 million euros ($727.73 million) in turnover if the dividends are at least 20% higher than the average of what they have been paying in the 2017-2021 period, according to the amendment.

($1 = 1.0306 euros)

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Reporting by Tassilo Hummel; Editing by Benoit Van Overstraeten

Our Standards: The Thomson Reuters Trust Principles.

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