France just approved an ammendment to tax its citizens on global income if they move to a region with tax 50% lower than France's.
France just approved an ammendment to tax its citizens on global income if they move to a region with tax 50% lower than France's.
FRENCH CITIZENS TO PAY GLOBAL TAXES
— Alex Recouso (@alexrecouso) October 20, 2024
🇫🇷 France just approved an ammendment to tax its citizens on global income if they move to a region with tax 50% lower than France's.
I've been warning you: modern feudalism is coming to EU countries with citizenship-based taxation. pic.twitter.com/JMKqaAdNA7
Income (and presumably capital gains) to be taxed for 5 years after leaving the country. Expected into effect in 2025
Reeves urged to hit wealthy with an exit tax as they flee the UK.
The recent wealth tax increase in Norway was expected to bring an additional $146M in yearly tax revenue. Instead, individuals worth $54B left the country, leading to a lost $594M in yearly wealth tax revenue. A net decrease of $448M+