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xchrom

(108,903 posts)
Mon Sep 10, 2012, 07:33 AM Sep 2012

Hollande Tells Billionaire to Be Patriot in Paying Taxes

http://www.bloomberg.com/news/2012-09-10/hollande-tells-billionaire-to-be-patriot-in-paying-taxes.html


A belt sits on display inside the Louis Vuitton "Etoile" store, operated by LVMH Moet Hennessy Louis Vuitton SA, in a former cinema in Rome.

French billionaire Bernard Arnault should show patriotism and do his share to contribute to the country’s economic recovery, President Francois Hollande said yesterday in a televised interview.

Arnault, 63, LVMH Moet Hennessy Louis Vuitton SA (MC) chief executive officer, last week filed an application to become a Belgian national. The billionaire promised he would continue to pay taxes in France, countering reports he wants to avoid taxes.

“He should have reflected on what it means to ask for another nationality, because we are proud to be French,” Hollande said on TF1 yesterday. “We have to call on patriotism at this time,” he said.

“Everyone must take part, and I note Arnault said himself he will contribute,” the president added, saying the billionaire made “the right correction.”
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