Gerard Depardieu has become the latest rich Frenchman to flee his country and the stinging wealth taxes levied by Francois Hollande, the Socialist President of France.
Belgium being a very interesting case. As I think, although am not entirely sure, that investment income is almost entirely tax free.
I understand that Belgium taxes investment income at the rate of 15%, and that capital gains from shares are entirely tax-free. Its a “tax haven” for people with capital.
If you work there, then the combination of income tax and social insurance is over 60%.
I have come across the Belgian thing before – at least a few years ago, there was no CGT in Belgium. Not sure about investment income.
Does anyone have the answer to these questions
a) Is Belgium full of foreign entrepreneurs/”wealth creators” etc, starting dynamic new businesses in Belgium?
b) How’s Belgium doing on deficit/debt etc?
this reminds me, did we ever get shot of tracey emin?
I’d feel sorry for the French if they weren’t getting what they voted for.