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French National Assembly Approves Wealth Tax on Ultra-Rich

24 February 2025

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Proposed Changes

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France

On 20 February 2025, the French National Assembly approved a 2% wealth tax on the assets of the country's wealthiest citizens. The "Zucman tax", named after economist Gabriel Zucman, targets individuals with over EUR 100 million in assets, affecting approximately 4,000 people in France. It is estimated to generate between EUR 15 and EUR 25 billion annually. The tax was approved with the support of left-wing parties, while right-wing parties abstained. Its future in the Senate is uncertain considering its right-wing majority.