France announces new tax on high incomes
Paris - AFP
France unveiled Wednesday an additional tax of 3.0 percent on annual income above 500,000 euros as part of a package of measures to cut the country's deficit by 12 billion euros over two years. Prime Minister Francois Fillon said the tax would remain in place until France squeezes its budget deficit back under the EU's intended limit of 3.0 percent of GDP, which should occur in 2013.
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