The French Ministry of Finance has released Guidance (French language) on the new withholding tax system for individual income that will be implemented from 1 January 2019. The new pay-as-you-earn (PAYE) type system requires employers to withhold income tax on income paid to employees. The system does not change the rules for calculating income tax but removes the one-year lag between deriving income and paying tax as under the current system. The guidance covers:
- The scope of withholding; …