July 15, 2020 / 6:45 PM / 21 days ago

France to cut business taxes by 20 billion euros over two years

FILE PHOTO: Bruno Le Maire, French Minister of the Economy, Finance, and Recovery, attends a handover ceremony at the Bercy Finance Ministry in Paris, France, July 7, 2020. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The French government will cut taxes French companies have to pay in addition to normal corporate income tax by 20 billion euros ($22.8 billion) over the next two years, Finance Minister Bruno Le Maire said on Wednesday.

“It will be a massive cut, twice 10 billion euros - 10 billion in 2021 and 10 billion euros in 2022,” Le Maire said on France 2 television.

“Producing in France will be cheaper, it’s as easy as that,” he added.

Reporting by Leigh Thomas and Bertrand Boucey; editing by Jonathan Oatis

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