La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Withholding tax continues to worry in France

Edouard Philippe said he was attentive to the ambient concern relating to the withholding tax. However, it should indeed take place in January. Except for companies with less than twenty employees. At the beginning of August, Bercy extended the mechanism of the Job Service Service Company, provided for social security contributions, to the withholding of income tax.

Withholding tax continues to worry in France

As the deadline approaches, concerns around the implementation of the withholding tax are crystallized. Companies with fewer than 20 employees can escape the administrative procedures linked to tax collection. The others continue to give voice to express their dissatisfaction because of this new administrative task which they will have to take on.

So much so that in an interview with the Journal du Dimanche on August 26, Edouard Philippe, the Prime Minister, said he was "attentive" to the surrounding anxiety. He said he wanted to "take stock of the preparation of this reform in the coming weeks".

Is this an opening for a possible postponement of the reform? No, replied Gérald Darmanin, the minister of action and public accounts responsible for the file, in an interview on RMC on August 27. The meetings will indeed continue in the coming weeks, but he maintains the date of January 1, 2019 for the launch of the source deduction.

However, the government has already backtracked on some points. Especially for the smallest companies, which will not have to collect tax if they choose. During the summer, the government indeed extended the device of the Title Emploi Service Service Entreprise (Tese) to the withholding tax.

The Tese is a mechanism managed by Urssaf allowing companies with less than twenty employees who wish to do so to avoid the administrative constraints linked to social security contributions. From the declarations made online by the employer on the remuneration of employees, the Tese teams are responsible for producing the pay slips, the nominative social declaration (DSN) and the details of the social contributions. The employer returns a single check for all social security contributions. From next January, the Tese will also calculate the withholding tax for companies joining the scheme.

Announced at the beginning of August, this relaxation remains confined to a marginal part of collectors. According to the government, around 1 million small businesses may be affected. However, not all of them spontaneously call on the services of Urssaf. Currently, according to Medef, only 58,000 small businesses have decided to subscribe to the job service business title.