France to crackdown on 'super rich' tax evasion, help middle class

[pomegranate]

Article: France to crackdown on 'super rich' tax evasion, help middle class

A similar move to the UK as discussed in this thread.

 

[JohnnyDoe]

What middle class?

 

[pomegranate]

What middle class?

exactly.. and what is "super rich" ?

 

[Dreamy]

Ok, so they will hit only superrich... cool, I am not superrich, so will not pay any tax there ))))

 

[wellington]

Explains the D/D UK banks started carrying out in 2022/23 for old almost dormant account(s) from decades long-ago.

Article: France to crackdown on 'super rich' tax evasion, help middle class

A similar move to the UK as discussed in this thread.

UK not mentioned in that thread FYI.

 

[pomegranate]

Sorry I meant this thread:

Tax avoidance promoters to face criminal charges in the UK

 

[algotrader]

According to an article from le nouvel obs, the super rich pay in France only 0.26% effective tax on their real economic income while the upper middle class pays about 25%.

La France, « paradis fiscal » des milliardaires (Unfortunately behind paywall)

And hat also explains how someone like Bernard Arnault could become the worlds richest man despite living in a high tax country. For the super rich who can afford to pay an army of tax consultants and complex structures around the world, there are lots of loopholes in the system. So, for them there's no need for tax evasion in France. For instance, the wealth tax didn't apply in the past to those who receive only a small personal income (relative to their business income). And since the super-rich are the main sponsor of Marcon and his party, this won't change for the next 5 years. Macron also wants to abolish the exit tax. So, what the Macron regime is trying to achieve now is to present the upper middle class as scape goat to the people and pursue/punish them more severely. But you can bet on that they will leave Arnault & Co. in peace.

 

[wellington]

Sorry I meant this thread:

Tax avoidance promoters to face criminal charges in the UK

Oh that's promoters, and dependent on how broad that is, that could in theory mean forums, moderators, non-professionals on message boards etc...

Like some Brits watching the horror show that has become the UK, i am waiting to see the political change before deciding on potentially rescinding my citizenship as it continues to seep into the Orwellian surveillance social state.

 

[Alonzo]

For instance, the wealth tax didn't apply in the past to those who receive only a small personal income (relative to their business income).

It's called a bouclier fiscal or tax shield.

Macron also wants to abolish the exit tax.

He already did when he became president but they re-establish last year.

And hat also explains how someone like Bernard Arnault could become the worlds richest man despite living in a high tax country.

Company profits is the main reason he's on top (luxury products with gigantic 1000%+ profit margin)

So, for them there's no need for tax evasion in France.

Tax evasion? They do for sure tax avoidance.
Wait till a very leftist person like Mélenchon becomes president and brings back global wealth tax and abolish the tax shield. Bernard Arnault will make a move to Belgium again. And btw Exit tax actually applies for people that move out of the EU.

 

[JohnnyDoe]

Like some Brits watching the horror show that has become the UK, i am waiting to see the political change before deciding on potentially rescinding my citizenship as it continues to seep into the Orwellian surveillance social state.

Better you do before it’s too late.
I’m so happy I didn’t take UK citizenship years ago. I was even practicing the “Life in the UK” test before I changed my mind