(MENAFN) France's President, Francois Hollande, stated that firms in the country must pay a tax of 75 percent on salaries that exceed USD1.28 million, reported Times of Oman.
Hollande said that the aim of the tax is to compel the country's wealthiest to play a positive role in putting an end to the economic crisis.
He added that French households would see no new taxes or tax increases in 2013 and 2014, nevertheless, he noted that people in the country would have to work longer under a pension overhaul being worked on for 2014 in order to lower the deficit in the retirement system.
It is worth noting that Hollande also plans to reduce the country's growing jobless rate to 10.6 percent at the end of 2013 and to lower it further in the coming years.
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