Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2013-03-22/france-to-alter-plans-to-raise-taxes-on-ultra-rich

AP News

France to alter plans to raise taxes on ultra-rich


PARIS (AP) — The French government's plan to raise taxes on the wealthy is being radically scaled back after a second legal opinion said the proposed marginal rate of 75 percent was unfair.

France's highest court had already thrown out the 75-percent rate, and a high-level advisory council agreed. The Socialist government on Friday said that under the decision, the rate on those with incomes above 1 million euros ($1.3 million) could not exceed 60 percent.

French President Francois Hollande campaigned on a promise to impose the tax, despite criticism that it would do little to solve growing fiscal problems and would drive away the wealthiest citizens. The current top tax rate is 45 percent.

The government says it will introduce a new measure in response to the decision.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus