France's 75% tax rate on rich struck down | Bangkok Post: news

News > World

France's 75% tax rate on rich struck down

- +

France's top constitutional body on Saturday struck down a 75-percent upper income tax rate, dealing a major blow to Socialist President Francois Hollande, who had made it his centrepiece tax measure. 

The government vowed to push ahead with the tax rate, which would apply to incomes over a million euros ($1.3 million) a year, and propose a new measure that would conform with the constitution.

The tax rate had angered business leaders and prompted some wealthy French citizens to seek tax exile abroad, including actor Gerard Depardieu who recently took up residency in Belgium.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments