Billionaire Bernard Arnault and his wife have been assessed with nearly €22.5 million ($25.7 million) in additional taxes, according to a recent decision by the Paris administrative court of appeal cited by AFP.
The chief executive officer of the global luxury goods conglomerate LVMH and his wife must pay French authorities €12.96 million in “additional contributions” — including taxes, social contributions, surcharges and late payment interest — for 2010, and €9.5 million in respect to France’s wealth solidarity tax for the years 2012 through 2015, according to the decision published on July 2 on the website of the administrative body.
The court’s ruling “will be appealed to the Council of State,” a spokesman for Arnault told AFP on Saturday.
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Public relations spokespeople for Arnault didn’t immediately reply to a request for comment from Bloomberg.
