The other measures to reduce expenditure would include new, lower limits on tax credits for R&D (the deductible amount would drop from 50 to 25 per cent and the ceiling would be brought down from € to € million). The expected saving would amount to about € billion in each of the two years 2020-21. Financial sector taxation.
– The budgetary provisions raise taxation on the banking and insurance sectors in the next three years: by € billion in 2019, € billion in 2020 and € billion in 2021. The measures envisaged postpone the deductibility of a number of cost items and increase the amount of tax advances; accordingly, they have a deferment effect.