Taxes: These 4 Surprising Elements You Definitely Don’t Know About Tax Payments

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Unexpected means of payment and colossal sums of money to process: The latest report from the Financial Sector Advisory Committee revealed unexpected details about the tax authorities.

By MoneyVox,

Every year, the Directorate General of Public Finances, or DGFiP, sees several hundred billion euros go through its accounts. Money paid by individuals and professionals under a multitude of taxes: income tax, IFI, property tax, housing tax… Public Treasury. Discover the 4 most surprising elements.

1. You can pay tax in cash

Cash is a means of payment that is still widely used on a daily basis. But did you know that it is possible to pay taxes with coins and notes? To simplify access to this payment method, the Tax and Customs Administration has entered into a partnership with tobacconists. These can collect money on behalf of the Treasury for all assessments under an amount of 300 euros. However, keep in mind that it is forbidden to send cash by mail, not to mention the risk of loss.

2. The tax authorities concentrate 45% of the transfers

On behalf of the State, the Treasury annually collects hundreds of billions of euros in VAT, income tax, property tax and corporate tax. Colossal sums of money that in particular explain that 45% of transfers in France are related to the DGFiP. In the number of transactions, this is therefore almost half of the total transfers of all persons and companies in the country that are related to the tax authorities. The CCSF completes its analysis by adding that this share “represents nearly as much in terms of sampling.”

Also read: Taxes: who can you contact for free to declare your income error-free?

3. Checks still resist dematerialization

Faced with bank cards, instant transfers or even mobile payments, the use of checks in France is declining. And despite a 10 to 15% drop in usage per year, this payment method still remains popular with taxpayers. As proof: according to the report of the Financial Sector Advisory Committee, the DGFiP processes approximately 100 million checks. A means of payment that remains indispensable for all households that do not have digital tools and that the tax authorities absolutely want to keep. This wish was confirmed by the CCSF, which speaks of inclusion and the importance of preserving “other means of payment – ​​checks and cash – for those who do not have access to digital services”.

Good to know: Households that do not have or cannot use the Internet can go to a French service house to be accompanied by an agent for all procedures related to the services.

4. Income tax is not the first tax revenue

Contrary to popular belief, income tax is not the primary source of funding for the treasury. In reality, this tax occupies only second place on the podium, ahead of the VAT paid on purchases by private individuals. On the amount side, approximately EUR 200 billion is generated by VAT against EUR 100 billion in income tax. The third place in the ranking goes to corporate tax, which still generates 70 billion euros annually. And if we include taxes in this list, income tax falls again, beaten by the CSG, which generated some 120 billion euros in tax revenue.

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