France's 2013 budget hikes taxes on companies, rich

PARIS Fri Sep 28, 2012 6:35am EDT

PARIS (Reuters) - France's draft 2013 budget imposed a total of roughly 20 billion euros in new taxes on large companies and wealthy households, including hikes in taxation on dividend income and reductions in the tax deductibility of interest payments.

The budget, approved by France's cabinet on Friday, said that the creation of a new 75 percent tax on millionaires and higher marginal tax rates on high earners would raise some 530 million euros next year.

The lowering of the threshold for wealth tax on individuals would raise a further 1 billion euros.

(Reporting By Daniel Flynn; Editing by Catherine Bremer)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see
Comments (1)
MaoMaoMao wrote:
Is that all? 500 Million Euros per year is all that they will raise from this tax? That will probably pay for the French government for a week? Well maybe for a regular 30 hour work week. . . Just a piss in the ocean. . .

Sep 30, 2012 12:23pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.