No, no, people just don\’t move for tax reasons, do they?

The richest man in France has officially transferred his multi-billion pound fortune out of his homeland to Belgium.

Bernard Arnault, head of luxury goods group LVMH, insists he has moved his assets for ‘family inheritance reasons’.

You can\’t pluck the geese if the geese won\’t sit still to be plucked.

And the EU says you\’re not allowed to tax people when they do move.

11 comments on “No, no, people just don\’t move for tax reasons, do they?

  1. ‘family inheritance reasons’: does he mean that he’s avoiding Inheritance Tax rather than income tax, or that he wants more freedom to direct his bequests where he may?

  2. Phil Mickelson mentioned the possibility of leaving California for tax reasons. He quickly apologized to phantom complainers. He said he shouldn’t have gone public. Which I take to mean he should have just moved to Lake Nona or Isleworth without saying anything.

  3. Makes me want to go out and buy a Zenith watch just to give Arnault something to pass along to his kids.

  4. The billionaires will pay tax. Just at the appropriate rate for their income.
    Which is not the same rate as employees as governments set different rates for different types of income.

  5. The Belgian inheritance tax rate system depends on the relationship between the deceased and the recipient. It also varies from region to region. The 70% rate only applies to distant relatives and unrelated persons. The top rate for inheritances received by children is only 30%.

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