Taxes on some wealthy French top 100 pct of income
More than 8,000 French households' tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data.
The newspaper said that the
exceptionally high level of taxation was due to a one-off levy last year
on 2011 incomes for households with assets of more than 1.3 million
euros ($1.67 million).
Francois Hollande's Socialist government imposed the tax surcharge last
year, shortly after taking office, to offset the impact of a rebate
scheme created by its conservative predecessor to cap an individual's
overall taxation at 50 percent of income.