PARIS - France will soon implement a tax on financial transactions, and will not wait to see if similar measures will be instated by other countries across the European Union. In a radio interview given on January 8th, Benoist Apparu, a Secretary of State of France, confirmed that a new bill will soon be presented to French parliament, introducing a financial transaction tax into the national tax system. Benoist Apparu indicated that a bill with new tax may be tabled in parliament by the ... Read More

PARIS - France could soon implement tax changes in an aim to boost the national economy and increase the rate of employment in the country. In a speech given in Paris on January 3rd, the President of France Nicolas Sarkozy confirmed that the country will soon see an increase to the national rate of value added tax and a reduction to the mandatory social security contributions paid by employers. The VAT rate increase is aimed at raising extra revenues which will be used ... Read More

Some of France's wealthiest individuals have called for the government to instate a one time tax on the ultra-rich, to aid the country's financial situation. In an open letter publicised on August 23rd some of France's wealthiest taxpayers claimed that they would rather pay an extra one time tax than see the country undergo extensive austerity measures and spending cuts. It was explained that such a tax would also be preferable to seeing permanent cut being instated to tax exemptions enjoyed by high ... Read More

The government of France is investigating means to raise tax revenues in order to put a reign on the national budget deficit, with a new tax on the highest income earners being seen as a viable option. In a press interview to the local media made on August 19th in Paris the Minister of the Budget of France Valérie Pécresse said that new tax measures will be implemented for individual taxpayers, with a raised rate for the country’s highest earners. The Minister ... Read More

The UK could soon follow Germany in signing a tax deal with Switzerland in order to reduce the occurrence of cross border tax evasion while allowing Switzerland to maintain its bank confidentiality regulations. The president of the Swiss Bankers Association Patrick Odier has revealed that Swiss and UK tax authorities are only a few weeks away from concluding negotiations over a new cooperative tax deal. Under proposals raised in the negotiations, Swiss banks would be responsible for applying a flat rate withholding ... Read More