Big business hit by government plans to raise an extra €7.2bn (£5.78bn) in taxes
French President François Hollande has announced tax rises on the wealthy and large corporations as the country struggles to stick to its deficit-reduction targets.
The new taxes will seek to raise an additional €7.2bn (£5.78bn), with just under half targeting big business.
Some of the measures will include raising taxes on banks - petrol companies will be hit by a new tax on energy firms holding oil stocks. The tax on financial transactions will be doubled to 0.2 per cent.
The other half of taxes will target the wealthy, and will include lowering the tax threshold which had been raised by Nicolas Sarkozy.
The new measures come as part of an amended 2012 budget and will likely be followed by further tax raises in 2013.
No comments yet