On July 4, 2012, the new French government unveiled the first part of its tax reforms by including them in the second amending finance bill for 2012. Although most of the major reforms intended by the French government (such as the creation of a 75% tax on individual income exceeding €1 million, increased taxation of financial income of individuals and further limits on interest deductions by companies) will be included in the 2013 budget (to be debated this autumn), the amending finance bill contains several important measures that are summarized below.