As US Seeks to Lower Taxes, France Seeks to Hike Top Corporate Tax Rate to Whopping 45%

Mish Talk:

At a time when the US hopes to slash corporate taxes, France is raising them. The measure was deemed necessary when a dividend tax introduced by Francois Hollande was ruled unconstitutional. To support a hike in the corporate tax, the government appeals to "civic sense" of duty.

Following a French court ruling that former president Francois Hollande's dividend tax is unconstitutional, France is scrambling to come up with an extra €10 billion to stay within Eurozone deficit limits.

Part of the solution is to hike the corporate tax rate. Other measures still have to be found. The proposal by Economy Minister Bruno Le Maire is to hike corporate taxes on the top 300 French companies to a whopping 45%.

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