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Crippling wealth tax in France

Source: www.thefirstpost.co.uk. Posted on 21 December 2006.

Many British expats have come to know the horrors of the crippling wealth tax that has sent French rock icon Johnny Hallyday fleeing for Switzerland.

Little known outside France, the ISF (Impot de Solidarite sur la Fortune) applies to global assets, including the estimated current value of your home and possessions. Thus people living on a meagre pension may be deemed to be wealthy and subject to the tax if their property is over a certain value.

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