The eye-catching and eye-watering 75% payroll tax rate in France was quietly killed off by the government yesterday, after failing to raise revenue. The tax was also accused of driving high earners away from France. The tax raised only €420 million ($505.8 million) in 2013 and 2014 combined, less than 0.5% of France's current budget deficit. It expires at the end of this month and won't be renewed. Earlier in 2014, President Francois Hollande, who made the 75% rate a key plank of his elect...
The eye-catching and eye-watering 75% payroll tax rate in France was quietly killed off by the government yesterday, after failing to raise revenue. The tax was also accused of driving high earners away from France. The tax raised only €420 million ($505.8 million) in 2013 and 2014 combined, less than 0.5% of France's current budget deficit. It expires at the end of this month and won't be renewed. Earlier in 2014, President Francois Hollande, who made the 75% rate a key plank of his elect...
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