#2012-1510Revised Finance Law 2012: Budget Adjustments and Local Aid
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law revises the 2012 French finance budget, focusing on adjustments to state revenues, taxes, and expenditures to address financial imbalances. It introduces a support fund for local authorities burdened by high-risk loans and adjusts compensation for regional development costs. Key areas affected include income tax shifts and special funds for public sector and infrastructural support, ensuring financial stability for government bodies.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Adjusts national budget and expenditures for fiscal balance
- Introduces a fund to aid local authorities with financial burdens
- Modifies tax allocations and regional compensations
Obligations
What this law requires
Adjust income tax (Impôt sur le revenu) revenues downward by €925,618 thousand for the 2012 revised budget
Increase other direct taxes collected through tax rolls (Autres impôts directs perçus par voie d'émission de rôles) by €1,073,642 thousand for 2012
Reduce internal tax on energy products (Taxe intérieure de consommation sur les produits énergétiques) by €739,749 thousand in revised 2012 estimates
Increase VAT revenue (Taxe sur la valeur ajoutée) by €3,772,061 thousand for 2012 revised budget
Establish and fund a support mechanism for local authorities burdened by high-risk loans through designated compensation funds and dotations