The French government has announced that a pay-as-you-earn (PAYE) system will be introduced for individual income tax purposes by 2018. Under the current system, individuals pay their income tax in the year following the year the income is earned. Under the new PAYE system, employers, or in certain cases banks, will be required to withhold and remit tax due on a monthly basis. Although tax will be paid monthly, annual returns will still be required.