France's richest man Bernard Arnault 'drops bid to become Belgian'


The head of luxury group LVMH said he always denied the move was for tax reasons but had abandoned plans to avoid 'any ambiguity'.

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France's richest man Bernard Arnault has withdrawn his application for Belgian citizenship after the move caused a huge outcry in the country, reports The Daily Telegraph.

Mr Arnault, the head of luxury group LVMH, applied for the citizenship last year as Paris moved to impose a 75-percent tax on incomes above one million euros. He had always denied doing it for tax reasons.