France: tax revenue 2012-2021, by type
Value-Added Tax, main revenue of the French government
It appears that the amount of the revenue of the VAT in France has increased from 2012 to 2018. That year, the revenue of the Value-Added Tax reached 157 billion euros, compared to 146 billion in 2016. In 2021, the VAT represented a third of the tax revenues collected by the State in France. However, other types of taxes in France have also increased, like the income tax, which went from 60 billion euros in 2012, up to 75 billion in 2020.
A State in debt
France is considered to be one of the leading countries in Europe, but the nation has also one of the highest debt levels in the European Union. In 2017, a Eurostat survey displayed that France had a deficit and public debt amounting to 98.5 percent of the national GDP. In 2021, the government revenue reached 1.31 trillion euro, whereas its spending came to around 1.49 trillion euros. This difference between France’s income and spending causes difficulties for the country’s economy. The budget balance of the state keeps being negative, while the cost of interest on the debt of France came in at over 34 billion euros in 2017.