France Won’t Make Payroll Tax Retroactive to Jan. 1, Echos Says

The French government will not make a payroll tax on overtime hours retroactive to Jan. 1, Les Echos reported without saying where it got the information.

Only overtime hours from Aug. 1 will be affected, the newspaper said. The wealth tax increase paid by the wealthiest 10 percent of residents will be three times higher than had been expected, Les Echos said.

To contact the reporter on this story: John Simpson in Toronto at jsimpson12@bloomberg.net

To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net

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