France seeks windfall tax on banks, oil producers

France's new Socialist government has proposed new taxes on windfall profits made by French banks and oil-producing firms in 1980. It also proposed a new income tax of an unspecified amount for 156,000 top income-tax payers in 1981; a new tax on general expenses of large companies; and higher value-added tax rates on some luxury items.

The new taxes would pay for a $1.2 billion package to finance more than 54, 000 new public-sector jobs and measures to lessen unemployment among young people and women.

You've read  of  free articles. Subscribe to continue.
QR Code to France seeks windfall tax on banks, oil producers
Read this article in
https://www.csmonitor.com/1981/0611/061128.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe