French finance minister admits taxpayers will be hit
Most French taxpayers will be worse off for the first year of a new PAYE system, France's finance minister admits
Breton , France’s finance minister, has admitted that most French
taxpayers will be worse off for the first year of a new PAYE tax system.
Breton had said this would amount to a tax holiday in 2008, but admitted
yesterday that because wages increase by 3% to 4%, taxpayers would pay more in
2009 than under the existing system.
‘There would be a small surplus compared to what would have been collected
under the traditional system,’ Breton said.
Breton said this excess would be used to help small companies adapt to the