Ritchie in The GuardianSeptember 11, 2012 Tim WorstallRagging on Ritchie12 CommentsHe\’s still not noticed that Belgium doesn\’t have a capital gains tax….. previousSo this is comic genius these days is it?nextMy God! Those Bastards At Glencore! 12 thoughts on “Ritchie in The Guardian” Shinsei67 September 11, 2012 at 10:05 am I was interested that he thought LVMH only sold stuff to the “world’s mega rich”. Or perhaps just subtly letting Mrs Murphy know she won’t be getting her anticipated bottle of Christian Dior’s J’Adore this Christmas. Surreptitious Evil September 11, 2012 at 10:13 am But his loyal followers are still entranced. And ignoring anybody who ventures in to the comments to point out that the Emperor has no new ideas. Richard September 11, 2012 at 10:26 am “The press doesn’t understand tax very well” Pot, kettle… Richard September 11, 2012 at 10:27 am There was one comment that might make sense: “Or maybe it is about an eventual move to Monaco. French citizens living in Monaco are bound by law to pay their taxes in France. But if Arnault renounces his French citizenship in favour of Belgian nationality, he will no longer be bound by such legislation.” Other than that, what about inheritance tax? That’s more likely to be affected by citizenship (as a sign of domicile) rather than just residence. But I don’t know much about Frog inheritance tax. Ambrose Murphy September 11, 2012 at 10:53 am Belgium is a good country to be rich and live in – no capital gains – but a bad country to be rich and die in – swingeing inheritance tax. As for Monaco, arnault was quoted specifically saying he was not renouncing French citizenship, so that’s not the answer. Shinsei67 September 11, 2012 at 10:55 am One does wonder whether this is a sensible move economically by Arnault. A luxury goods brand depends on maintaining a desirable reputation so as to charge premium prices. If LVMH gets tainted as “unpatriotic” then what does that do for sales and thus LVMH’s share price and Arnault’s wealth. After all there are plenty of alternatives to Moet champagne and Louis Vuitton luggage. It may not bother the Chinese consumers much but the French consumer is still a significant share of sales. Van_Patten September 11, 2012 at 11:45 am What a moron – As I hasten to add, this gentleman will be running the UK’s Gulags/ Tax Policy from shortly after Ed Miliband’s victory in 2015! Emil September 11, 2012 at 11:58 am Shinsei67 “A luxury goods brand depends on maintaining a desirable reputation so as to charge premium prices. If LVMH gets tainted as “unpatriotic” then what does that do for sales and thus LVMH’s share price and Arnault’s wealth.” It would probably do it very well as I would suspect that most affluent clients would at the very least be sympathetic and very likely also be considering to move or already have moved away from high-tax countries. Richard September 11, 2012 at 12:26 pm There could be a new brand niche – tax avoider chic. Dave September 11, 2012 at 3:33 pm Timmeh> Do us all a favour and stop reading the Guardian. No-one important pays the slightest bit of attention to the ranting and propaganda they call news. bloke in spain September 11, 2012 at 6:17 pm @#10 Unfortunately your no-one important includes most of the media people who set the news agenda. So it gets rammed down the throats of the viewing/listening public 24/7 SimonF September 11, 2012 at 7:42 pm @dave, Have you seen how often the Guardian is quoted by the BBC? Like it or not that that’s influence. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.