Quote of the day - French corporate tax
"la France est un enfer fiscal pour les PME et un paradis fiscal pour les grands groupes."Translation: "France is a tax hell for small enterprises, and a tax heaven for big groups."
The story that includes this quote cites data from France's Cour de Comptes (audit court) that the effective tax rate on small businesses is 33%, while that for large businesses is a mere 8 per cent.
Tax havens are a central reason for this discrepancy, which is absolutely inefficient and harmful for markets, and indeed for democracy itself.
This story comments on proposals by French president Nicolas Sarkozy to create a new tax on consolidated world income so that companies pay a minimum of taxes in France.
Hat tip: Mathilde Dupré