FRENCH TAX ON "TURNOVER"
For some time' past the "turnover tax in' France has*been in operation. Move time is necessary exactly to estimate the full returns of this new method of obtaining ' the revenue. It is a departure from the commercial habits, of the country. The first result? of the working of the ilax are already known, and are encouraging. The early indications show a minimum receipt of taxes- under this -head of .£12,000.000 monthly, or 000 yearly. This promises well for the future, because .fiscal experience shows that' a newlv-crealed tax* never gives .at once it? full yield. Seventy-five per renv. of tbc normal produce of a tax- is thought to bo a good beginning. Time is required to establish new taxation on a folid basis, and secure its entire collection. On this'calculation the turnover tax mov be expected to bring in after next vear .£lG,ooo,floo a month, or nearlv .£200,000,000 a year, even if the turnover of trade in France does not: exceed its present figure.
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Dominion, Volume 14, Issue 61, 6 December 1920, Page 4
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168FRENCH TAX ON "TURNOVER" Dominion, Volume 14, Issue 61, 6 December 1920, Page 4
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