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Rejecting people’s protests, President Marlon’s opposition to the restoration of property taxes

Rejecting people’s protests, President Marlon’s opposition to the restoration of property taxes

December 06, 2018 11:29 Source: China News Network

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According to a report on the Russian satellite network on the 6th, the Elysee Palace source said that French President Mark Long opposed the restoration of property taxes at the ministerial meeting. He said, "We will not destroy any achievements that have been completed in 18 months. ".

According to reports, the property tax, also known as the Rich Profit Tax (ISF), was previously applied to taxpayers with a total personal assets of more than 1.3 million euros. It is also stipulated that high-value movable property such as yachts and luxury cars are also included in the taxable scope. From 2018 onwards, the French government changed the rich tax to real estate wealth tax, taxing only real estate in the name of individuals, and excluding financial savings and investment property, in order to encourage wealthy taxpayers to invest in the French economy.

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Restoring property taxes is one of the many requirements of the “yellow vest” campaign. The French government originally scheduled to raise gasoline and diesel taxes in 2019. Many people think that it is unfair for the government to abolish the "rich tax" but to increase taxes on ordinary people, so they spontaneously organized protests.

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On the 4th, French Prime Minister Philippe announced a series of measures to ease the domestic situation when he responded to the large-scale protest of the "Yellow Vest" campaign. On the 5th, it was reported that the fuel tax in France will not increase in 2019.