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France to Lift Taxes on High Earners, Les Echos Reports

Oct. 12 (Bloomberg) -- French Prime Minister Francois Fillon is seeking to increase the country’s supplementary tax on high earners, Les Echos reported, without citing anyone.

The extra tax will be increased to 3 percent for households with individuals earning 250,000 euros a year each, and 4 percent for households where the individuals earn at least 500,000 euros each, the newspaper said.

The change will double projected state receipts from the extra tax to slightly over 400 million euros, the newspaper said. The finance commission is likely to approve the proposal today, Les Echos said.

To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net

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