Comments for TechBaguette

Comment on Does Europe’s tech scene enjoy self-bashing? by Sylvain Gendrot (@sgendrot)

Sylvain Gendrot (@sgendrot) — Fri, 18 May 2012 12:26:20 +0000

To be clear, the tax of 75% is a joke, i show you:
1/ It’s not over 1M€ revenue, it’s over 1M€ fiscal revenue. To know your fiscal revenue, you divide the sum of revenue of the familly by number of people (called “part”). Ex: husband+wife+2M€ revenue = 1M€ fiscal revenue
if you have childrens it’s similary.
husband+wife+3 childrens = 4 “part” (the first children and second count for half), that mean you must earn more than 4M€ to be impacted by the 75% tax …

In France, you have two options: pay tax or have childrens XD
(be alone is double punished here: 1/ you’re alone; 2/ you have to pay for)

2/ the money earned in investissement, real estates,… is taxed by other laws, then the 75% tax don’t include the “Wall Street money”.

But anyway, if you pay yourself 2M€, you don’t must think to tax, you must think to yours employees !!!! Do you prefer give 1M€ to your employees or keep this money for you ??? If you keep this 1M€ and say “i don’t succeed alone, my employees have the majority of this success” …. it’s a lack of honor, you must be punished !!

Comment on Does Europe’s tech scene enjoy self-bashing? by oissaly

oissaly — Fri, 18 May 2012 10:49:09 +0000

Even if this 75% tax apply to entrepreneurs, I don’t think it will have an effect for all of them. Take the first time entrepreneur in its early 20′ : do you know any of them who decided not to launch a start-up because of fiscality. Most successfull entrepreneur will tell you they were not aiming at becoming rich, just wanted to change the world, achieving their dream or else. Fiscality may be an issue for serial entrepreneur (et encore !) but not for the next Zuckerberg

Comment on Does Europe’s tech scene enjoy self-bashing? by Antoine

Antoine — Fri, 18 May 2012 10:33:39 +0000

It enters the “exceptional revenue” part of the 75% thing. That’s something Hollande explained to Soccer players : the revenue they make during their 10-year career can be smoothed over a normal 40-year professional life. Sure if they keep making over 1-million a year after that, they’ll have to pay. So yes if you’re called Zuckerberg in France, book a thalys ticket

Comment on Does Europe’s tech scene enjoy self-bashing? by Roxanne Varza

Roxanne Varza — Fri, 18 May 2012 10:02:36 +0000

Interesting, do you have a link where to where it says that this won’t be applied to entrepreneurs ?

Would love to come to CH. We’re working on launching a Failcon there…maybe Girls in Tech one day too

Comment on Does Europe’s tech scene enjoy self-bashing? by Roxanne Varza

Roxanne Varza — Fri, 18 May 2012 10:01:51 +0000

Yes but is it still a very high tax for over 1M in revenue – paying 75% on everything earned over 1M is still less of an incentive to earn over because you end up paying most of it…

Comment on Does Europe’s tech scene enjoy self-bashing? by Roxanne Varza

Roxanne Varza — Fri, 18 May 2012 09:56:56 +0000

Yes, it’s a much more complex continent.

Comment on Does Europe’s tech scene enjoy self-bashing? by Sylvain Gendrot (@sgendrot)

Sylvain Gendrot (@sgendrot) — Thu, 17 May 2012 21:19:09 +0000

Exactly and the 75% tax is for every Euro over 1M€:
if i earn 2M€, i will pay normal tax for 1M€ and 75% tax for 1M€.

But after the count and before the check, i will reduce my “bill” with “niche fiscal” (tax reductions), ex: money given to charity, employees at home, painting, etc ….

Finally, i will never pay 75% or 50% of tax.

Comment on Does Europe’s tech scene enjoy self-bashing? by Richie Greenberg

Richie Greenberg — Thu, 17 May 2012 19:55:39 +0000

To add to this post, what I said earlier: I think many people misunderstand the 75% Tax? It’s my understanding that such French taxes are based on the net (the leftover revenue after accounting for all business epxenses, office rent, salaries, office costs etc). This netto amount is after all costs and salaries are already paid. Employees have their paychecks, social charges already paid, office rent, telephone, etc all done. Not 1 person I know here in San Francisco/Silicon Valley cares at all about the company’s income tax percent after all costs are paid, to decide whether they should be in business or not. Its a strange, bizarre reason or just an excuse to not start their own company?

Comment on Does Europe’s tech scene enjoy self-bashing? by timothee

timothee — Thu, 17 May 2012 19:33:16 +0000

Hi Roxanna,

Julien is right about the VC spirit about already proven market investments.
The culture, especially in France (already the case since ten years in Germany) is changing you’re right. When i see people reactions when i tell i am an entrepreneur, it’s always : whooa, i have ideas too, but i never tried…

Anyway, most important: the new french tax rule of 75% WON’T be applied to founders that sold their company… Hollande told 2 entrepreneur two months ago, it will be taxed normally like an expectional revenue. Please spread the word to avoid misunderstanding.

I am a french entrepreneur in Geneva (CH) and i really believe the startup scene is moving quite fast since 5 yrs, but it also has kept its european style, what i admire. I think from this side of the atlantic, people will talk and love game/rule changers, paving the way for new way of living, more than billions euros of valuation…

Feel free to come in Geneva to compare once, my best to tech girls.

Comment on Does Europe’s tech scene enjoy self-bashing? by Sylvain Gendrot (@sgendrot)

Sylvain Gendrot (@sgendrot) — Thu, 17 May 2012 19:18:59 +0000

Julien, you point a real problem:
http://www.euronews.com/2012/05/09/herman-van-rompuy-the-eu-will-never-become-the-united-states-of-europe/
When “our président” (Van Rompuy) say: “The EU will never become the United States of Europe”

it’s clear.