France Cuts Corporate Tax Rate to 31% in 2020 Budget (2)

French lawmakers Dec. 19 passed a 2020 budget bill that cuts the corporate tax rate from 33.3% to 31% for large companies.

The rate cut applies to companies with more than 250 million euros ($278 million) in sales. Tax rates for smaller companies will fall to 28% in 2020. The budget also includes about 5 billion euros in tax cuts for low- and modest-income households.

The government had promised a 30% corporate tax rate in 2018. But that was before the yellow vest protesters, known as the gilets jaunes, took over the streets of Paris and other French ...