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 Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

Patent Prosecution Attorney

USA-MI-Northville

Northville office of our client seeks patent prosecution attorney with 5 years of experience. The ca...

Apply Now

Trademark and Copyright Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks trademark and copyright associate attorney with 4-8 years o...

Apply Now

RELEVANT JOBS

Attorney - Insurance Defense

USA-GA-Atlanta

Downtown litigation law firm seeks associate with 3 to 5 years of experience in insurance defense, i...

Apply now

Legal Secretary-Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Legal Secretary or Paralegal. We are a cannabis law firm...

Apply now

Paralegal- Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Paralegal or Legal Secretary. We are a cannabis law...

Apply now

Legal Administrative Assistant

USA-CA-Sacramento

Under the general direction of the supervising attorney(s) and according to established Firm policie...

Apply now

SEARCH IN ARCHIVE

To Top