French Bonus Tax Would Apply Only To Bankers

PARIS (Reuters) – France’s proposed new tax on bankers’ bonuses will only apply to market traders and will not affect those working in other areas such as corporate finance or private banking, a government official said on Wednesday.

“According to the legal framework, it is only for those trading in financial instruments. If you’re in M&A (mergers and acquisitions), you’re not trading a financial instrument,” an official from the French Economy Ministry told reporters.

(Reporting by Sudip Kar-Gupta; editing by James Mackenzie)