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Tax and Jurisdictions

Bernard Arnault, second-gen chief executive of LVMH and France's richest man, has withdrawn his application for Belgian citizenship following continued accusations that he was trying to avoid the new 75% tax levied on incomes of more than €1 million.

Bernard Arnault, second-gen chief executive of LVMH and France's richest man, has withdrawn his application for Belgian citizenship following continued accusations that he was trying to avoid the new 75% tax levied on incomes of more than €1 million.

Cuts to corporation tax and a £2,000 (€2,300) allowance towards employer national insurance contributions are among the measures most likely to affect family businesses in the latest UK budget.

Cuts to corporation tax and a £2,000 (€2,300) allowance towards employer national insurance contributions are among the measures most likely to affect family businesses in the latest UK budget. 

Family offices are being warned it is “risky” to ignore the introduction of the Foreign Account Tax Compliance Act next year.

Family offices are being warned it is “risky” to ignore the introduction of the Foreign Account Tax Compliance Act next year. 

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

The rich and their families are hiding more than $21 trillion (€17.36 trillion) in offshore tax havens, equivalent to around $250 billion in lost tax revenues for governments, according to a report released on Sunday.

The rich and their families are hiding more than $21 trillion (€17.36 trillion) in offshore tax havens, equivalent to around $250 billion in lost tax revenues for governments, according to a report released on Sunday.