While forming a new government appears more complicated than expected, there is one subject that already seems to be garnering a large number of votes within the political class: the contribution of very high incomes and assets. Desired by the left as well as the RN, it was also mentioned by the Prime Minister himself this week.
In the event of a future tax increase targeting individuals, it is therefore a safe bet that this category of the population will be the main target. And to do this, several levers could be activated.
Simply reintegrating financial assets into the current IFI grid (to return to the old ISF) could generate some 3 billion euros in additional revenue. For Philippe Crevel of the Cercle de l’Épargne, the surplus could even be around 5 billion euros, “taking into account the increase in securities” since the abolition of the ISF at the end of 2017.
Successions
Contribution on high incomes
As a reminder, an exceptional contribution has been applied to high incomes since 2011. It applies beyond 250,000 euros of reference tax income for a single person and 500,000 euros for a couple, with rates of 3% or 4% depending on the brackets.
Recently, the Avant-Garde Institute put forward the idea of raising the marginal rate above 1 million euros (currently 4%) and creating a new bracket at 2 million euros.
The proposal could be quite attractive due to its symbolic nature and ease of implementation. But its yield could also be symbolic (only 100 million euros according to Avant-Garde).
Exceptional tax
To generate more revenue, the Avant-Garde Institute suggested another way: an exceptional tax on the top 10% of financial assets (excluding real estate and professional assets). Enough to bring in 7 billion euros into the state coffers.
Concretely, this would involve applying a non-renewable levy of 0.5%… with, however, the risk, as has often been the case in French taxation, of having something temporary that lasts.
Other more delicate paths to take
The PFU, which has been widely criticized, could also be part of a tax reform targeting the wealthiest. However, eliminating this flat-rate levy or raising its rate could also affect a large number of middle-class households at the same time.
Touching the CSG or VAT could also be frowned upon by a large part of public opinion, as these deductions do not only concern the most well-off.
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