Cornered, the French authorities had to review their plans and increase taxes, part of which will be borne by the wealthiest taxpayers. Remember that the wealth tax (ISF) was abolished in 2018 and replaced by other forms of taxation (such as the IFI, real estate wealth tax).
The wealthiest, “main target of tax fury”?
France, constrained, is therefore working on a new tax system. According to Les Echosnewspaper owned by billionaire Bernard Arnault, the wealthiest taxpayers and big businesses are the “main target of tax fury”.
Belgian notation, this sword of Damocles over Arizona
The media also publishes the tax and savings barometer from Amafi, the French Association of Financial Markets, which is based on European data.
France and Belgium, leading duo
France is number 1 in terms of capital taxation (savings, assets, etc.), with a rate reaching 60% in 2020 (and which is therefore likely to increase). Belgium is second, with a rate of 40%. Italy is “far” behind, with 31.5%, followed by Germany (30.5%).
National Rally or not, you will still have to pay French motorway tolls
Note, however, that Belgium does not have a direct wealth tax. Taxation mainly involves withholding tax, tax on savings accounts and securities accounts and inheritance and gift taxes.
Finally, remember that the French government, led by Michel Barnier, wants a budgetary effort of 60 billion euros for 2025, to reduce the public deficit to 5% of GDP, and try to regain control of its debt.
