Prime Minister Michel Barnier’s plan to raise taxes on the rich could prompt some to move out of France and others who might have been considering settling in the country to cancel their plans, according to wealth and tax advisers. Barnier’s 2025 budget proposals place a floor of 20% on the tax rate for individuals earning more than €250,000($273,000) annually, or couples earning double that amount. The measure is meant to counter the effects of tax shelters they might otherwise benefit from. The finance ministry said it’ll last three years, affect about 65,000 households and raise €2 billion.
BLOOMBERG