France’s planned 75-percent tax on salaries exceeding 1 million euros ($1.3 million) per year will be levied on firms in 2013 and 2014 and only for those two years, French business daily les Echos reported on Monday.
The Socialist government, in line with an election campaign pledge from President Francois Hollande, plans to make firms including football clubs pay a 75 percent tax on the portion of salaries they pay that exceed 1 million euros.
Hollande’s proposal ran into a storm of criticism from sports stars and business leaders in 2012 and was knocked back by France’s Constitutional Court as being confiscatory.
via CNBC 
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