Breaking News

Francois Hollande Recieved Approval for the 75 Percent Tax
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Francois Hollande, the President of France, has received approval from the country’s constitutional court to continue with his plan to tax wages above 1 million euros at 75 percent for this year and the following year. The first proposal to put the change into effect had been turned down by the constitutional court in December of last year because the tax applied to individuals and not households, according to Bloomberg News. 60 members of parliament and more than 60 senators filed their opposition, which caused the court to examine the proposed tax.

Francois Hollande announced the 75 percent tax back in February 2012 as part of his presidential campaign to appeal to his Socialist base. This has become a symbol of his government’s record high taxation rate.

  
What
Where


President Francois Hollande has received approval from the country’s constitutional court. Hollande revived the plan this year, making it apply to salaries and be paid by employers rather than individuals. He will proceed with his plan to tax salaries above 1 million euros at 75 percent for this year and next.

In the proposal the companies will have to pay a 50 percent duty on wages above 1 million euros, that is $1.4 million. In combination with other taxes and social charges, the rate will amount to 75 percent of salaries above the threshold, the court wrote in a published decision.

The Economy Ministry said in an e-mailed statement that, “The companies that pay out remuneration above 1 million euros will, as expected, be called upon for an effort of solidarity on remuneration paid in 2013 and 2014.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Image Credit: www.newsmax.com





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-Level Commercial Business Litigator

USA-CA-Los Angeles

Los Angeles office is seeking a commercial business litigation attorney with 2-5 years of experience...

Apply Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney

USA-CT-Stamford

Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Experienced Estate Planning Attorney

USA-CA-Torrance

Torrance office is seeking an estate planning attorney with 7-10 years of experience.

Apply Now

RELEVANT JOBS

Attorney

USA-WA-Woodinville

The ideal candidate will have 2-3 years’ experience as an attorney, who is passionate about br...

Apply now

Legal Secretary / Paralegal

USA-UT-Ogden

Have need of a legal secretary / paralegal to prepare legal documents for court filing and estate pl...

Apply now

Medical Malpractice Associate

USA-CA-Los Angeles

Downtown Los Angeles medical malpractice defense firm seeks 2-4 year associate attorney with persona...

Apply now

Immigration Attorney

USA-CA-Anaheim

Responsibilities: Make appearances in immigration court at Master Calendars and Individual Hea...

Apply now

SEARCH IN ARCHIVE

To Top