Overview

• Article 3 of the draft budget would tax assets held by qualifying holdings valued at €5 million or more with at least 33% family ownership and predominantly financial income.
• Roughly 10,000 taxpayers are targeted and the government projects about €1 billion in revenue from the new levy.
• Two 2024 measures would be extended: a 20% minimum tax for individuals reporting over €250,000 in annual income and a profits surtax on more than 400 very large companies.
• Matignon estimates the extended levies would bring in over €5 billion while the separate Zucman wealth tax proposal was not included.
• Key implementation details remain under debate, with experts warning that defining what qualifies as “professional” assets could trigger disputes and legal challenges, and some critics labeling the plan a disguised return of the ISF.