Saturday February 22, 2020

France's Hollande gets court approval for 75% millionaire tax

French President Francois Hollande received approval from the country’s constitutional court to proceed with his plan to tax salaries above €1 million at 75 per cent for this year and next.

30th December, 2013
French President Francois Hollande.

French President Francois Hollande received approval from the country’s constitutional court to proceed with his plan to tax salaries above €1 million at 75 per cent for this year and next.

Under Hollande’s proposal, companies will have to pay a 50 per cent duty on wages above €1 million. In combination with other taxes and social charges, the rate will amount to 75 per cent of salaries above the threshold, the court wrote in...

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