French football to pay 75% tax penalty
The French President has shown football club's in the country no mercy when it comes to a 75% tax on salaries over €1m (approx £856,000).
After meeting club executives yesterday, Francois Hollande said they would not be shown any special treatment when it comes to tax despite threats of a match blackout.
"The need to clean up public finances fully justifies this effort demanded of businesses that choose to pay such high annual salaries," he said.
The assertion comes as the French government cuts spending and increases taxes in an effort to reduce its expanding deficit.
The tougher stance against the football clubs contrasts with a Mr Hollande's decision to reverse other taxes in France, particularly a tax on lorries which was shelved after protests by truck drivers.