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France votes to raise taxes on the rich
New measures, such as increases in wealth and inheritance taxes, have angered wealthy citizens.
Last Modified: 20 Jul 2012 21:47

France's parliament has voted to increase taxes on the rich, a move that has angered many wealthy in the country.

The rich now face a rise in wealth tax as well as a tightening of inheritance tax. More measures are also expected, including a 75 per cent tax rate on annual incomes of more than $1.2m.

Opinion polls showed that most French citizens approved the tax hikes, but some of the rich have called them "counter-productive".

Al Jazeera's Tim Friend reports from Paris.

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Source:
Al Jazeera
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