France mulls scrapping wealth tax in reform

PARIS | Wed Feb 16, 2011 6:55am EST

PARIS Feb 16 (Reuters) - France is considering scrapping a tax on wealth as one option in an upcoming reform of the country's fiscal regime ahead of elections early next year, government spokesman Francois Baroin said on Wednesday.

"We are working on the scenario of the complete scrapping of the wealth tax and in parallel the complete scrapping of the (tax) shield," Baroin, who is also the country's budget minister, said at a news briefing.

France's tax shield prevents individuals from paying more than 50 percent of their income in taxes.

(Reporting by Leigh Thomas; writing by Nicholas Vinocur)

 
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