The carbon tax is passed to the door Tuesday censured by the Constitutional Council. The government promised to submit within three weeks, a new mechanism. Anyway, the series of texts budget voted in recent weeks Finance Act 2010, Act funding Social Security, supplementary budget for 2009 includes several other measures affecting the taxation of households this year. Here are the key.

• Ceiling overall tax loopholes

For income received in 2010, a taxpayer may not reduce their income tax using the tax loopholes (working from home, child care, grants to associations, Scellier …) beyond an amount equal 20 000 plus 8% of its taxable income. Introduced in late 2008, the overall ceiling was far more generous, to 25 000 plus 10% of income.Taxpayers who use the niches Dom-Tom, Scellier, or devices for tourist homes have a respite: they have signed an investment commitment before December 31, 2009, they escaped the drop in overall ceiling .

• Act Scellier

The reduction of income tax, taxpayers enjoyed buying a new home for rent under certain conditions, remains at the same level as in 2009 – representing 25% of the purchase price – for homes purchased in 2010 that they meet or not the standard "building low-power" (BBC). The "greening" starts from 2011 for non-BBC dwellings, the tax cut to 15% next year and 10% in 2012. For homes BBC, it remains at 25% in 2011 and then fell to 20% in 2012.The Scellier disappears at December 31, 2012.

For new housing, the loan rate zero (PTZ) was doubled in 2009 and will continue until June 30, 2009. Photo credits: Pascal SITTLER / REA

The French specialist travel products and leisure announced Friday a loss of 53 million euros from 1 November 2008 and October 31, 2009 against a profit of 2 million euros a year earlier. The 21 million euros in restructuring costs weighed heavily on the results, detailing the release of the group.

The global economic crisis, which has particularly affected the tourism sector premium has resulted in a decrease in the rag business almost 9% on year to 1.36 billion against 1.48 billion euros last year. Current operating income Villages is nevertheless increased from 35 to 36 million.The group also provides a new line of credit of 120 million euros maturing in December 2012.

"The customer gains the upper end are confirmed despite the crisis, our fundamentals are solid operating profitability of the villages has improved steadily, and financial structure was strengthened," said chief executive Henri Giscard d'Estaing, quoted in the press.

The strategy of moving upmarket Club Méditerranée conducted for several years and translated for the first time by a number of clients 4 and 5 Tridents (669,000) exceeds the number of clients 2 and 3 Tridents (549,000).

China, "a major growth driver, is expected to open the first village (ski) in late 2010 and five more by 2015.This new market could become a "leading markets group" with such future locations, and help Club Med to restore profits.

The euro is stronger and more united than its detractors suggest. The ill winds that had stood on the Acropolis in the wake of the crisis in Dubai, have subsided in 48 hours. Jean-Claude Trichet on Thursday expressed "confidence" in the fact that the Greek government would take "appropriate action". Two days earlier, Jean-Claude Juncker had swept a backhander fears of default on public debt: "This bankruptcy scenario is totally absurd, Greece is not and will not be bankrupt. The European Commissioner for Economic Affairs, Joaquin Almunia, was equally supportive: "The problems of Greece are also the problems of the eurozone."

In simple words, but that totally defused suspicion.The risk premium had risen sharply to 215 basis points (rate differential between bonds of Greece and those of the German state), it fell to 169 points, level "before Dubai. And yet the situation in Athens is still as "worrying", according to the finance ministers of the European Union, during their Tuesday's Ecofin. They refer to the three records from Greece: a deficit that will reach 12.7% of GDP in 2009, government debt represents 113% of GDP and an external payments deficit of almost 7% of GDP.

A seemingly hopeless position, but the drama of recent days has shown in vivo that Greece had spoiled for choice to find a good Samaritan, of the four following mechanisms.

• Solidarity partners of the euro area

There is no formal "financial instrument to address a funding crisis to one of the members" of monetary union, as noted by Jean Pisani-Ferry, director of the Brussels think tank Bruegel. The Maastricht Treaty is actually contradictory in this regard. On the one hand, it prohibits salvage procedure (bail out) debts of a State (Article 104B). On the other, it provides "due to exceptional events (…) to grant, under certain conditions, Community financial assistance" (Article 103a), as noted by Sylvain Broyer, an economist at Natixis.

• Insurance Fund

Unlike Dubai, which is not a member of the International Monetary Fund, except indirectly through the United Arab Emirates, Greece "contributor" itself to the insurance company what the IMF.But everybody recognizes, and Jean-Claude Trichet first, even if it has never publicly admitted he is de facto ruled a country in the euro area do call to global solidarity that is the IMF . This would be an admission of political weakness. The Minister of Finance, George Papakonstantinou, was also quick to declare that he had no intention of doing so. Able to recall how he was entitled.

• China, deus ex machina

The U.S. agency Dow Jones Newswire has revealed that Athens was in talks with Chinese banks to sell their 25 billion euros of securities of the public debt. The Prime Minister, George Papandreou, was even in the negotiations. Nothing extraordinary in themselves: the U.S. Treasury and Agency France Trésor spend their time doing the same thing.More disturbing, the Chinese authorities to extend the benefit of investing $ 5 billion made last year in the port of Piraeus by Cosco Pacific (Hong Kong).

• A significant challenge for the euro area

"If the deterioration of the Greek debt continues, we will find ourselves in the terrifying position of being unable to obtain cash, because the ECB will not accept our securities as collateral," said this week the Governor of the Bank of Greece George Provopoulos. A technical way, but convincingly, to describe the systemic risk to the Greek banks, which would meet all the carpets. A "small Lehman" in Greek? A good reason at least to encourage Europeans to stick together.

It took perseverance. After a standoff with the government, UMP deputies finally voted against their amendments, which had the support of other groups. The crucial issue was to ensure that local authorities revenue sufficient substitute. Thus, the principle of territoriality of the reassessment will be implemented and communities benefit directly from taxes paid by businesses in their territory.

The day before, the UMP deputies gave up back on the exemption of TP in firms with less than 500,000 euros of turnover. One of the rejected amendments included in effect of exempting TP businesses up 152,000 euros of turnover, instead of 500,000 euros, as desired by the government.In counterpart, Christine Lagarde had to remove the two amendments that were presented in the draft budget law to establish a "national equalization" of the new contribution.

Debate November 19

In summary, the economic contribution territorial (CET) will replace the business tax. It will consist of an assessment of local activity (professional land) and a supplementary contribution to the value-added businesses. As proposed by Gilles Carrez, the supplementary contribution will be allocated to the communes and inter-municipal, or 2.3 billion euros of contributions.The debate on the base of the supplementary contribution will continue in the Senate.

But all fears were not lifted so far, including the Association of Regions of France (ARF) which considers that the regions are excluded from political debate on local taxes. "The draft 2010 budget law removes the regional tax base built property tax, only regional tax in connection with the household," says the ARF in a statement. The Association of Small Cities France (VFPA) also announced Friday it would intervene with the Senate on the removal of business tax (TP), after the rejection by MPs of amendments prepared by the Finance Committee of House. The debate should be further pursued in the Senate from November 19, then joint commission.

ALSO READ

"Professional tax: the debate continues in the Senate