Income tax above 100%..
Discussion
..in France
More than 8,000 French households’ tax bills topped 100 per cent of their income last year, the business newspaper Les Echos reported this weekend, citing Finance Ministry data.
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 €1.3m (£1.01m).
President 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 per cent of income.
Les Echos reported that nearly 12,000 households paid taxes last year worth more than 75 per cent of their 2011 revenues due to the exceptional levy.
More than 8,000 French households’ tax bills topped 100 per cent of their income last year, the business newspaper Les Echos reported this weekend, citing Finance Ministry data.
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 €1.3m (£1.01m).
President 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 per cent of income.
Les Echos reported that nearly 12,000 households paid taxes last year worth more than 75 per cent of their 2011 revenues due to the exceptional levy.
williamp said:
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 €1.3m (£1.01m).
That's not "Income tax above 100%" then is it? It's a property tax, which is related to assets not income. Misleading thread title.PS - It's possible to get a total tax bill exceeding your income in the UK too, if you're going to count things like Stamp Duty.
Jesus. That is so depressing.
What makes me sick about this kind of thing is that governments touting for votes using certain groups as victims to win them.
If you have earned money under a given set of tax laws then you should be protected from retrospective tax rapings on that money. That seems like common sense to me.
What makes me sick about this kind of thing is that governments touting for votes using certain groups as victims to win them.
If you have earned money under a given set of tax laws then you should be protected from retrospective tax rapings on that money. That seems like common sense to me.
blindswelledrat said:
Adrian W said:
Right or wrong, at least they had the balls to do it, not like our lot, who keep saying "but its within the rules"
Are you talking about the google/starbucks thing here? Is there a relevance?Adrian W said:
blindswelledrat said:
Adrian W said:
Right or wrong, at least they had the balls to do it, not like our lot, who keep saying "but its within the rules"
Are you talking about the google/starbucks thing here? Is there a relevance?Completely off topic but I see the UK Govt had 2 choices:
1) Close the 'loophole' which allowed them to do this, simultaneously putting off (hundreds of?)billions of pounds of genuine foreign investment for who the law was designed or
2) Leak the matter to the tabloids and let public fury solve the problem,
I'm willing to bet that starbucks and google will pay an awful lot more tax next year for minimum upheaval
Dixie68 said:
Whilst ours grows in leaps and bounds!Welcome to France. Please do not succeed.
Just makes me laugh that a country can spite those who have made something out of themselves. I mean yeah, fine, the hereditary rich i have no feelings about, but those who have amassed their wealth through balls and cunning better than mine deserve a bit of a break.
Just makes me laugh that a country can spite those who have made something out of themselves. I mean yeah, fine, the hereditary rich i have no feelings about, but those who have amassed their wealth through balls and cunning better than mine deserve a bit of a break.
MrBrightSi said:
Welcome to France. Please do not succeed.
Just makes me laugh that a country can spite those who have made something out of themselves. I mean yeah, fine, the hereditary rich i have no feelings about, but those who have amassed their wealth through balls and cunning better than mine deserve a bit of a break.
Why do you have no feelings about the hereditary rich, out of interest?Just makes me laugh that a country can spite those who have made something out of themselves. I mean yeah, fine, the hereditary rich i have no feelings about, but those who have amassed their wealth through balls and cunning better than mine deserve a bit of a break.
Why would someone spend their entire lives working, get rich as a result and then have to hand it all to the government at the end?
eccles said:
Dixie68 said:
Whilst ours grows in leaps and bounds!http://www.guardian.co.uk/business/2013/may/13/uk-...
Dixie68 said:
eccles said:
Dixie68 said:
Whilst ours grows in leaps and bounds!http://www.guardian.co.uk/business/2013/may/13/uk-...
Adrian W said:
Dixie68 said:
eccles said:
Dixie68 said:
Whilst ours grows in leaps and bounds!http://www.guardian.co.uk/business/2013/may/13/uk-...
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