Top court approves France’s 75% tax on rich

Those in France earning more than €1 million will be subject to a 75% tax, now that the country’s top court ruled the measure constitutional, reports the BBC.

This is the second time the French government has attempted to implement such a measure. The first attempt was blocked by the court when it ruled the tax on individual incomes was unconstitutional in 2012.

Read: France’s tax on rich off the table

After the first court ruling, the government changed the proposed tax to make employers responsible for levying the tax on all salaries over €1 million, the BBC reports. The new tax will apply to income earned in 2013 and 2014.

Read more here.

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