This study was commissioned by the Senate Finance Committee to shed light on the impacts of the introduction of the single flat-rate levy (PFU) in 2018. The aim of the study is to present the initial findings on the impact of the PFU – using the limited data sources already available – and to provide a more comprehensive évaluation of the 2013 reform that abolished the flat-rate withholding tax (PFL). Particular attention is paid to the evaluation of the impact of capital gains tax on dividend distribution, on possible tax optimisation or income shifting effects, and on the actual economic effects on investment.
Évaluation de l’impact de la taxation des dividendes
The aim of this report is to provide an overview of the current state of knowledge regarding dividend distribution policies and responses to the taxation of capital income, as well as to carry out original ex-post evaluations of the reforms implemented in France.
Reference IPP Report No. 25
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