Accountancy in France

Country overview

France is part of the European Union (EU) which has 28 countries and 510 million inhabitants. With 66.7 million, France represents 13% of EU’s total population.

France, as well as the 19 other members  of the euro zone, uses the Euro. The euro is approximately worth 0,87 GBP and  1,12 US$ (as at 31/05/2017).

French people speak French although English can be spoken in bigger cities. All legal, accounting and tax documents must be prepared or made available in French.

France covers approximately 641,185 km². As of January 1st, 2016, the French population is about 66.7 million people including 28.7 million working people. The unemployment rate is about 10 % of the working population.

The French GDP stands at 2801 billion US$ and is the 6th largest in the world (2016).

Economic overview

The annual inflation rate was around 0,2% in 2016. The Euribor annual interest rate is negative at 0.130%.

Growth rate for 2017 is expected to be around 1.4% (1.1% in 2016).

The tax administration is quite powerful and attention should be paid to existing constraints but also possible opportunities.

Payroll regulations and obligations should be considered very carefully as most benefits are defined by law and must  be applied.

Transport infrastructure

France has a sophisticated transport infrastructure: modern highways and  road networks, railway and high-speed train networks, canals and rivers which  are well connected to other European Union countries.

Air transport has been largely developed both nationally and internationally. Paris Charles de Gaulle is ranked 10th in the world for its number of passengers. Each regional city has its own airport with direct domestic flights and numerous international connections.


Latest version updated 16th October 2017

Country Breakdown

67

Million

Population

Euro

Currency

$ 1.465

Trillion

GDP

643,801

km2