Bernard Arnault, CEO of LVMH, criticized the French government’s planned tax hike, suggesting companies might relocate to the US to avoid it. Arnault, close to President Macron, compared France’s proposed 40% corporate tax to the US’s 15%.
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LVMH CEO Criticizes French Government’s Tax Plan
He dismissed Finance Minister Eric Lombard’s claim that the tax would be temporary. The tax could increase LVMH’s burden by €700-800 million.
Arnault’s remarks sparked controversy, with some accusing him of aligning with far-right views. The government aims to reduce the public sector deficit by combining tax rises and spending cuts.
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