December 29, 2012

Top French court overturns 75 percent tax rate for rich

France’s highest legal body, the Constitutional Council, announced on Saturday it was overturning the Socialist government’s flagship 75 percent income tax rate for high earners, marking an embarassing setback for President François Hollande.

French President François Hollande was dealt an embarassing blow on Saturday when the country’s highest legal body scrapped his controversial 75 percent upper income tax rate. Read more + video.


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