France: Constitutional Court strikes down 75% tax rate; French Parliament passes new laws

Global Watch ()

The French Parliament recently passed various personal income tax and wealth tax provisions under the French Finance Act for 2013 and the 3rd Amended Finance Act for 2012. The new laws passed by the French Parliament were published on December 29, 2012. In addition, the French Constitutional Court struck down several measures in its decision published on December 30, 2012, including the exceptional surtax of 75% on very high earned income (the so-called 75% tax). This Global Watch describes the main measures applicable to individuals after the Constitutional Court’s decision.