IPP Report n°25 – October 2019
Authors: Laurent Bach, Antoine Bozio, Brice Fabre, Arthur Guillouzouic, Claire Leroy, Clément Malgouyres
Contacts: antoine.bozio@ipp.eu
Summary
This study was commissioned by the finance committee of the French Senate to shed light on the impacts of the introduction of the single flat-rate levy (prélèvement forfaitaire unique, PFU) in 2018. The objective of the study is to present the first results of the impact of the PFU – using the few sources of data now available – and to present a more complete assessment of the 2013 reform that abolished the flat-rate withholding tax (prélèvement forfaitaire libératoire, PFL). Particular attention is focused on assessing the impact of capital income taxation on dividend distribution, on possible income optimization or income shifting effects, as well as on the real economic effects on investment.
- This report is complemented by IPP Policy Brief n°46 “What lessons can be learned from the capital income tax reforms?” presented on October 15th, 2019 at the Evaluation of the 2020 French Budget conference.
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Impact assessment of the taxation of dividends (in French)
Press articles
- Les Échos, 09/10/2019 – Impôts : ce que la « flat tax » a vraiment coûté aux finances publiques
- Le Monde, 09/10/2019 – Contre-attaque du Sénat sur l’évaluation de l’impôt sur la fortune
- Public Sénat, 09/10/2019 – ISF : les plus riches ont gagné 1,7 million d’euros, l’économie attend encore le «ruissellement»
- AFP via Le Point, 09/10/2019 – Création de l’IFI : des sénateurs dénoncent des « effets indésirables »
- Usine Nouvelle, 09/10/2019 – Le Sénat étrille l’impôt sur la fortune immobilière, le successeur de l’ISF
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