French Companies to Get Tax Relief Amid ‘Economic Shock’ of Virus

French companies hit by the Covid-19 outbreak will be able to get tax and social welfare payments delayed and, in the most difficult cases, get breaks on their direct taxes.

French Finance Minister Bruno Le Maire announced the measures Thursday as part of an effort to help small and medium-size companies survive the “economic shock” of the outbreak.

“First, we’re going to respond to the cash-flow challenge” faced by these companies, he said, adding, “That means spreading out tax and social welfare expenses.”

• Companies that can’t pay will get relief on a case-by-case basis, Le Maire said.
• France wants next Monday’s meeting of Euro zone and EU finance ministers to come up with a “coordinated, effective, stimulus plan” for euro zone and EU economies, Le Maire said.
• France wants to “make available immediate means at the national level, and European level, to respond to this economic shock,” he said.