French President Francois Hollande, Culture Minister Aurelie Filippetti and Prime Minister Ayrault have declared their opposition to a socialist lawmaker’s proposal of making art subject to the country’s wealth tax. The proposed amendment to the 2013 budget would apply to people with assets above €1.3 million. The wealth tax of 0.25% is levied in addition to income tax. For assets over €3 million, the rate would go up to 0.5%.
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