Bernard Arnault, France\’s richest man and chief executive of luxury group LVMH, said he had applied for Belgian nationality, denying the decision was a tax move.
But there is no capital gains tax in Belgium….useful for the future perhaps?
Bernard Arnault, France\’s richest man and chief executive of luxury group LVMH, said he had applied for Belgian nationality, denying the decision was a tax move.
But there is no capital gains tax in Belgium….useful for the future perhaps?
This report must be incorrect. Murphy claims individuals never move/change residency/whatever due to tax rates being increased…..
This is why I’m in favour of Scottish devolution. As soon as Brits can change their tax basis simply by moving house a short distance to a country with the same language, culture, and civic institutions, we can expect to see some real tax competition.
It’s easy for a Frenchman to move to French-speaking parts of Belgium or Switzerland. It’s harder for a Brit to move to France or Spain. Once we have the option to vote with our feet by moving to or from Scotland, governments will be able to see the results of their policies.
What? You have Bucky in England too?
Yes, I know, it’s made in Devon …
Not sure CGT is a reason to take Belgian citizenship. I could be out of date, but a few years ago you could move to Belgium for a year and sell whatever you wanted to sell that year, and avoid CGT (legally under the law, if not under Murphy).
I know a retired Dutch couple who moved to Normandy for tax reasons. I’m sure a lot of this goes on within Europe.
Does it matter why someone moves? Is it not allowed under EU law?
Yes it does matter if you want to know if tax rates affect people’s behaviour.
Of course it’s a tax move. Why else would anyone choose to live in Belgium?