The French Ministry of Economy and Finance Aug. 5 announced the approval of Amending Finance Law 2022 and a series of measures to aid with inflation due to the ongoing Russia-Ukraine conflict and increased energy prices. The legislation includes measures to: 1) reduce employer contributions by 0.50 euros (US$0.50) per overtime hour worked, for companies with 20 to 250 employees; 2) increase the tax exemption cap on overtime to 7,500 euros (US$7,643) from 5,000 euros (US$5,095), until Dec. 31, 2025; 3) increase the basic retirement pension by 4 percent; 4) exempt from taxes and contributions reductions of working time (RTT) ...
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