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Tax – Withholding tax: more than 8 million French people will receive money mid-January

This is the first tangible consequence of the withholding of income tax that should be perceived rather positively: mid-January, 8.8 million French will receive a payment from the Treasury as tax credit based on their 2018 return for 2017 earnings.

This will be 60% of credits and tax cuts. According to the estimate of Gerald Darmanin, the Minister of Action and Public Accounts, the average advance will be 627 euros.

This amount corresponds, for the taxpayers concerned, to the retrocession of the sums which they could previously withdraw from their tax, namely specifically part of the childcare expenses of their child (ren), part of their donations to the associations, or a deduction on the employment of a person at home.

The money will be paid directly to the taxpayers' bank accounts for those who have given their bank details to the tax authorities. For those who have not done so, they will receive a check in their mailbox.

See also: The hour of truth for the reform of the withholding tax

For those who are eligible for a tax credit in 2018, with a declaration expected in 2019, the retrocession is scheduled for September 2019.

Voted under the five-year Hollande, the reform of the withholding tax officially came into effect on January 1, with one year behind schedule initially planned. In total, 40,000 agents were trained to respond to requests from the public, including via a non-surcharged number (0.809.401.401). This service is in great demand with the effective entry into force of the reform, which gives taxpayers the opportunity to change their tax rate.

Read also:

Collection at the source: "there is no bug", assures Darmanin

Withdrawal at source: the 10 keys to a delicate reform



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