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LOL, denies that it's for tax reasons...just like a possible nuclear option to exchange Biden for Hillary would be cited as being for "health reasons".
LOL, denies that it's for tax reasons...just like a possible nuclear option to exchange Biden for Hillary would be cited as being for "health reasons".
Please learn to read and comprehend, the article you link states he plans on keeping his income and paying taxes in France. Being a FISCAL Resident.
Quote:
"Contrary to information published today, Bernard Arnault clarifies that he is and will continue to be a fiscal resident in France. His possible acquisition of Belgian nationality will not change this situation or his determination to develop LVMH and create jobs in France," he said.
Because French taxation is based on residency and not citizenship, a French person can go live in another country, keep his/her citizenship and not pay French taxes.
If this person continues to be resident in France, changing citizenship has zero impact on his tax status.
"Contrary to information published today, Bernard Arnault clarifies that he is and will continue to be a fiscal resident in France. His possible acquisition of Belgian nationality will not change this situation or his determination to develop LVMH and create jobs in France," he said.
Given that this move won't change a single penny in the amount of taxes he owes to the French state why is the OP falsely claiming it was a tax move? Did he just not read the OP or was he deliberately lying?
Because French taxation is based on residency and not citizenship, a French person can go live in another country, keep his/her citizenship and not pay French taxes.
If this person continues to be resident in France, changing citizenship has zero impact on his tax status.
But he has more mobility to renounce and yank his money if the government decides to do the 75% tax rate dance.
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