Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

What's Putin's Plan? Kiev Accuses Russia of Terrorism

Read more

FOCUS

Campaigning against Bouteflika's re-election... in France

Read more

WEB NEWS

Chile: Online mobilization to help Valparaiso fire victims

Read more

ENCORE!

Art, sex, money, memory and manga

Read more

MIDDLE EAST MATTERS

Spat over Iran's UN ambassador hampers thawing relations with US

Read more

FOCUS

China trade deal: Is Taiwan's identity under threat?

Read more

IN THE PAPERS

'Call it a caretaker government'

Read more

DEBATE

Nigeria's Battles

Read more

DEBATE

Nigeria's Battles (part 2)

Read more

  • Kiev powerless as pro-Russia activists seize armoured vehicles

    Read more

  • France's new PM targets welfare in drive to cut spending

    Read more

  • Belgian head of wildlife reserve shot in eastern Congo

    Read more

  • Rescue effort under way as ferry sinks off S. Korean coast

    Read more

  • US rolls out red carpet for French critic of capitalism

    Read more

  • North Korea not amused by London hair salon's Kim Jong-un ad

    Read more

  • Brazil club Mineiro cancel Anelka signing after no-show

    Read more

  • Syria 'torture' photos silence UN Security Council members

    Read more

  • Paris laboratory loses deadly SARS virus samples

    Read more

  • More than 100 schoolgirls kidnapped in northeast Nigeria

    Read more

  • New York police disband unit targeting Muslims

    Read more

  • 'Miracle girl' healthy after seven-organ transplant in Paris

    Read more

  • Paris police memo calling for Roma eviction ‘rectified’

    Read more

  • Burgundy digs into France's bureaucratic 'mille-feuille'

    Read more

  • French court drops ‘hate speech’ case against Bob Dylan

    Read more

  • Algeria rights crackdown slammed ahead of election

    Read more

  • Iraq closes notorious Abu Ghraib jail over security fears

    Read more

  • Berlusconi sentenced to community service for tax fraud

    Read more

  • In ‘Tom at the Farm’, Xavier Dolan blends Hitchcock and homoeroticism

    Read more

  • US to mark one year since Boston Marathon bombing

    Read more

  • India's Supreme Court establishes third gender category

    Read more

France

France's richest man applies to become a (less-taxed) Belgian citizen

©

Video by Oliver FARRY

Text by News Wires

Latest update : 2012-09-10

France’s wealthiest man, billionaire Bernard Arnault (pictured), has applied for Belgian citizenship, according to reports Saturday in Belgian media, just as France seeks to pass a law taxing incomes above one million euros to the tune of 75 percent.

AFP - Bernard Arnault, the richest man in France and the world's fourth-wealthiest, has applied for Belgian nationality as Paris moves to impose a 75-percent wealth tax, reports said Saturday.

The 63-year-old billionaire head of the LVMH luxury goods empire filed an application with parliament last week to become a naturalised Belgian citizen, the La Libre Belgique daily quoted a senior official as saying.

"The file will be treated the same as all the others," Georges Dallemagne, the head of the naturalisation commission, told the paper. "We currently have 47,000 before us."

Belgian legislation requires applicants for citizenship to have had at least three years residency in Belgium, barring which they need to prove ties to the country, Dallemagne said.

Arnault lives in Paris and has a home in Brussels, the daily said.

His application comes amid a debate on one of the main pledges that France's President Francois Hollande made during the election campaign earlier this year -- to impose a 75-percent tax on incomes above one million euros.

Press reports this week said that the government was looking to water down the measure by raising the threshold to two million euros for couples and excluding capital gains.

But on Friday Finance Minister Pierre Moscovici vowed that the campaign promise would be "strictly" implemented.

The new tax is due to be included in the 2013 budget, which the government expects to finalise later this month.

Arnault, whose fortune is estimated to stand at 41 billion dollars by Forbes magazine, was a close ally of France's former right-wing president Nicolas Sarkozy.

Following the election of France's previous Socialist president Francois Mitterrand in 1981, Arnault lived in the United States for three years, returning to France after the Socialists switched to a more conservative economic course.

Date created : 2012-09-08

  • FRANCE

    L'Oréal heiress sells Seychelles island at heart of tax evasion probe

    Read more

  • FRANCE

    France gives green light to holiday home tax hike

    Read more

  • FRANCE

    Lower house votes to end exemptions, raise taxes on wealthy

    Read more

Comments

COMMENT(S)