Actors like Jean Reno and Gerard Depardieu have cemented their fame in the French Film Industry and abroad but could they be next in line for the 75% tax burden?
After France’s top court approved the 75% tax rate, employers will now have to pay a 75% tax rate on salaries that exceed the sum of €1 million a year.
Gerard Depardieu created a storm of controversy when he announced that he was abandoning France, and subsequently moved across the border to Belgium to escape the heavy tax burden. But he’s not the only actor in the French film industry who gets a good salary. In fact, Jean Reno in the past has commanded multi-million euro salaries for his work in the movies, so will this encourage France’s most talented actors, directors and even producers to take a pay cut or move abroad?
Some may argue that actors shouldn’t be paid such a high salary for their work in films, but stars like Brad Pitt, Will Smith, Cameron Diaz, George Clooney and even Kristen Stewart can get multi-million dollar salaries, shouldn’t that be ok?
After all, some of France’s most beloved actors are the ones that earn more than €1 million a year and they aren’t attacked for being ‘too greedy’.