French president refuses to renege on new “supertax,” despite soccer teams’ protestations « Hot Air

French president refuses to renege on new “supertax,” despite soccer teams’ protestations « Hot Air: "The French government has also anounced that it will beef up the exit tax, a tax first implemented by Sarkozy in 2012 intended to slow the pace of people leaving the country for tax reasons. The exit penalty taxes capital gains at the rate of 19 percent and adds a 15.5 percent payroll-tax-like penalty. The tax isn’t paid as taxpayers exit the country, but they have to pay it if they sell their assets within eight years after their exit. Hollande that limitation to be expanded up to 15 years after the taxpayers leave the country."

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