French Government To Harden Stance On Tax Policies

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According to Gerald Darmanin, the French budget minister, the government of France is set to take a harder stance on the tax imposed among the business chiefs of firms that are listed in France.

In November, Emmanuel Macron, the President of France, addressed the issue in a December speech that aimed at quenching the flames of widespread civil unrest in the nation, which signalled a less tolerant approach to corporate tax affairs.

In an interview with Journal du Dimanche, a French newspaper, that was published this morning, Darmanin stated: “As the president has said, the heads of companies listed in France, or which count the French state as a shareholder, must under all circumstances be tax residents in France.”

He added: “We’re in the process of making sure of that, and we’re ready to take any necessary measures if it were not the case.”

It is not clear whether Darmanin has any specific firms in mind.

Macron has arguably faced his toughest test as the President of the country in the past weeks as the so-called yellow vest protest movement has swept across France, and more demonstrations were held yesterday in which clashes with police authorities continued. However, the turnout was down as compared to the previous weeks.

However, the lessening of the number has by no means indicated that Macron has shaken his tag of “President of the rich,” which trended after he discarded a wealth tax in 2017.

So far, he has refused to reinstate the wealth tax, however, he has made some other concessions to protestors, including an increase in wages for the poorest workers and tax reductions for pensioners.