What field invest? What expenses favour? By France, development and presentation of the budget of the State have evolved considerably in recent years to meet democratic clarity and effectiveness objectives.
From the State budget corresponds to all its resources and its expenditure. The bulk of the resources comes taxes and the taxes paid by the citizens and businesses. Expenditures correspond to the money spent by the State to finance public action.
The Constitution of 1958 laid down specific rules for the presentation and adoption of the budget, including the legal name is “project finance law” (PLF). Each year, the Government presents in the fall before Parliament the draft budget for the following year bringing together in a single document, all government spending and revenue forecasting France.
Parliament, assisted by financial authorities decided to reform the State budget tracking adopting in 2001 the organic law on the finance laws, the LOLF, real “financial constitution of the State”, applied for the first time in 2006. Budget is now structured by broad public policy, missions, in order to provide a greater readability.
A greater legibility of public policy
The rules adopted in the framework of the LOLF helped to make the presentation more understandable State budget. Previously, government spending were presented by “nature”: staff expenditure, operational intervention (example: economic aid), investment (example: road construction) as well as the interests of debt repayment.
Since 2006, the State budget is presented by major public policies through a cutting by 30 “missions”. For example, “security”, “education” missions are divided into more finely programs. Thus, the “security” mission involves two programs – “national policy” and “gendarmerie nationale” – and “education” mission, six programs, among which “public school education of the 1st degree”, “student life”, or even “teaching technical agricultural.
Taxation of foreign English responds to some specific rules it is important to know, before his departure, or to prepare for his return. “Living except for France” taxes site page details all the steps to follow. The site of the House of the French overseas also has a section dedicated to special expatriate tax conditions: tax domicile, tax conventions with France paiement… and tax arrangements
It may have taken over four years in the making but on the 19 June 2008 a new version of the double taxation treaty between France and the UK was finally signed by the Rt. Hon Alistair Darling MP, Chancellor of the Exchequer, and Mme Christine Lagarde, the French Minister for the Economy, Industry and Employment.
The new treaty is expected to enter into force some time late 2009 provided all treaty adoption procedures (i.e. parliamentary approval, ratification and exchange of diplomatic notes) are completed.
Below is a summary of some of the key elements which could affect British citizens living in or moving to France should the new draft of the treaty be ratified and become law.
Delayed Wealth tax liability