French presidential candidate wants a 100% tax on the rich
Jean-Luc Melenchon, a far-left candidate backed by the French Communist Party, has said he would introduce a 100% tax on income above €400,000 (£428,800, $425,000).
France
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How French succession law works
While there are many benefits to living in France, estate planning is not one of them, explains Jason Porter, director of European IFA firm Blevins Franks. After taking a look at succession tax last week, this week he breaks down succession laws that are complex, and which many feel are unfair.
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Understanding estate planning in France
Estate planning in France is made far more challenging by ‘forced heirship’ succession law and inheritance tax rates of up to 60%, explains Jason Porter, director of European IFA firm Blevins Franks. The regime is particularly daunting for complex family situations.
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British widow in France refunded over pension advice
A British widow has been refunded for poor advice she received from a UK adviser while living in France.
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All French and Italian Rops dropped from UK pension list
All French and Italian schemes have been removed from the HM Revenue & Customs (HMRC) list of recognised overseas pension schemes (Rops) said to meet the conditions for accepting UK retirement pots.
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Former French budget minister jailed for tax evasion
Jerome Cahuzac, a cosmetic surgeon and former French budget minister tasked with cracking down on tax evasion, has been jailed for three years after he was found guilty of tax fraud and money laundering.
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AnaCap buys Barclays France, plans wealth manager launch
Barclays is to sell its French retail banking operations, life insurance business, and wealth and investment management operations to European financial services private equity firm AnaCap Financial Partners.
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France looks to tighten rules for asset managers
France’s markets watchdog has set out rules to limit the repayments asset managers make to investors when markets are stressed, making it the latest regulator to shine a light on the industry.
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Ireland told a French-style wealth tax will raise just €22m
Ireland’s controversial plans to impose a wealth tax on its super-rich, similar to other European countries such as France and Spain, may yield just €22m (£18.6m, $23.2m), according to a study by the Economic and Social Research Institute (ESRI).
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French prosecutor pursues HSBC in €180bn tax fraud case
A French prosecutor has called for HSBC to stand trial for helping clients hide more than €180bn (£161.3bn, $199.8bn) in offshore tax havens from the country’s tax authorities, French news agency AFP has reported.
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France requests data on 45,000 UBS accounts from Switzerland
French tax authorities have asked Switzerland to name the holders of 45,161 bank accounts as part of an investigation into alleged tax fraud, French news service AFP has reported.
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Investment prospects of the top 10 Olympic nations
As the world’s attention turns to Rio for the opening of the 2016 Olympic Games on Friday, fund managers have assessed the investment opportunities on offer in the most powerful Olympic sporting nations.