#2011-1416Corrective Finance Law for 2011
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This law adjusts the French national budget for 2011, amending revenue and expenditure estimates. It authorizes additional financial commitments and state guarantees, particularly concerning Dexia, a financial institution. Business and finance sectors should note changes in fiscal policies and state-backed guarantees.
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Key Changes
- Adjustment of national budget estimates for revenue and expenditure in 2011.
- Authorization of additional financial commitments and payment credits.
- State guarantee granted for Dexia's financial activities.
Obligations
What this law requires
Adjust revenue estimates for 2011 according to the revised figures specified in the legislative annexes, including income tax reduction of €560,555 thousand and VAT increase of €1,902,558 thousand
Implement the exceptional 25% levy on profit distributions (€4,000 thousand revision) as specified in line 1405
Apply the wealth tax (Impôt de solidarité sur la fortune) adjustments of €306,000 thousand for 2011
Authorize and manage additional state financial commitments and guarantees concerning Dexia financial institution as referenced in the law's summary
Collect VAT at revised rates generating €1,902,558 thousand in additional revenue for 2011