French President Emmanuel Macron’s abolition of the wealth tax soon after he took office was designed to stem the flow of millionaires from the country, but following a sustained outcry from his critics – who have called him “President of the rich” – his government is planning to introduce a tax on luxury yachts, supercars and precious metals in the 2018 budget. The wealth tax was brought in by the Socialists in the 1980s, and was levied on individuals with assets above €1.3 million. Although there were plans to replace it … Continue reading France to tax yachts, supercars and precious metals