AFP: France’s top court on Sunday approved a proposal for companies to pay 75 percent tax on annual salaries exceeding one million euros in line with President Francois Hollande’s drive to limit executive pay at a time of economic hardship.
The Constitutional Council had earlier in the year thrown out one of Hollande’s key campaign pledges to impose a 75 percent tax on individuals earning more than one million euros ($1.35 million).
The rejection of that proposal exempted those who had a significant inheritance but low incomes from coming under the 75 percent tax bracket. … (more)
