France raises ‘terror tax’ to support victims of attacks

French Government is levying ‘terror tax’ on the property insurance policies of French citizens to help finance a fund for victims of the extremist attacks that have recently hit the country. The measure comes into force on from 1 January 2017 and requires policy holders to contribute 5.90 euros. French government earlier in October 2016 had launched scheme that about 90 million insurance policies are floating the fund which currently has reserves of 1.45 billion euros. More than 200 people have died in France in attacks over the last 20 months.