France to harden stance on tax among company bosses, as yellow vest protests continue over weekend

The French government is to take a harder line on tax among business chiefs of companies listed in France, according to budget minister Gerald Darmanin.

Last month, President Emmanuel Macron addressed the issue in a December speech aimed at dousing the flames of widespread civil unrest in the country, signalling a less tolerant approach to corporate tax affairs.

Darmanin told French newspaper Journal du Dimanche in an interview published this morning: “As the president has said, the heads of companies listed in France, or which count the French state as a shareholder, must under all circumstances be tax residents in France.

“We're in the process of making sure of that, and we're ready to take any necessary measures if it were not the case.”

It is unclear whether Darmanin has any specific companies in mind.

Macron has faced arguably his biggest test as President in the past weeks as the so called yellow vest protest movement has swept through France, and more demonstrations were staged yesterday in which clashes with police continued. However, turnout was down from previous weeks.

But the lessening of number by no means indicates Macron has shaken his tag of “President of the rich”, which trended after he scrapped a wealth tax last year.

He has so far refused to reinstate the wealth tax, but has made other concessions to protestors, including wage rises for the poorest workers and tax cuts for pensioners.