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Explained: France's proposed 'Zucman tax' on the super-rich
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The Local France
So what actually is the 'Zucman tax'?
This is one for the super-rich - individuals whose total assets (including real estate, salary, professional and financial assets) exceed €100 million.
The Zucman tax would be applied to people worth €100 million or more if their total annual tax bill (including income tax, social charges, wealth tax etc) is less than 2 percent of their assets.
READ ALSO: What is France's 'wealth tax' and who pays it?✎Who supports the Zucman tax?
The idea of tax flight - where taxing the rich will cause them to leave the country - is the standard argument against any kind of wealth tax.
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