French court approves 75% income tax

Note: This section contains information in English only.
Source: Bloomberg
The Constitutional Court of France approved an increase of the income tax to 75% for people earning above one million euros. Therefore, the proposal of country's president Francois Hollande got the official permission to be introduced. Companies will pay a 50% tax on wages that exceed one million euros, but together with other social charges the amount will rise to 75%.

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