Businesses rather than employees will foot the bill for a new 75 percent tax on salaries over €1 million, French Finance Minister Pierre Moscovici said in an interview with Les Echos on Thursday, while a plan to cap directors’ pay has been dropped.French businesses will face a 75 percent tax on employees’ salaries above €1 million a year under new legislation set to be introduced by the country’s government in 2014.
However, the government will stop short of introducing a cap on executive pay in the private sector, France’s Finance Minister Pierre Moscovici revealed in an interview with French daily Les Echos published on Thursday.
Saturday, May 25, 2013
French Socialists continue their obsession with high taxes...
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