Reports that veteran rock star Johnny Hallyday is leaving France for Switzerland in order to avoid crippling wealth tax have added extra fizz to the upcoming presidential elections.
The 63-year-old leather-clad rocker (right) earns an estimated €6.5m a year and is reported to pay some €18,000 (£12,000) a day to "le fisc".
So keen is he to avoid the tax that before relocating to the resort of Gstaad, he even tried to become Belgian. Like Switzerland, Belgium does not impose a wealth tax. Better still, it allows its citizens to live in Monaco, where they can benefit from the principality's tax haven status.
Johnny, whose real name is Jean-Philippe Smet, had hoped he'd be given Belgian nationality because his father was from there. But the singer was born out of wedlock, so a law refusing to recognise illegitimate children scuppered his plan. |
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Johnny Hallyday is the latest to elude France’s wealth tax, reports susan bell |
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Some 100,000 other rich French citizens have moved abroad since the wealth tax was first introduced by Francois Mitterrand in the 1980s.
Although popular with voters, critics say the levy is counterproductive, driving capital and talent abroad.
"The tax situation in France is no longer acceptable," said Christian Estrosi, Minister for Planning and a supporter of conservative presidential candidate Nicolas Sarkozy, who pledges to limit annual taxes to a maximum of 50 per cent.
Socialist candidate Segolene Royal, however, has vowed to crack down on wealth tax dodgers. "If Segolene Royal was president of the Republic, Gstaad would have to extend its city limits because it would be necessary to accommodate many more French people," warned Mr Estrosi.
Let battle commence - even if Johnny won't be here to enjoy it. 
FIRST POSTED DECEMBER 19, 2006 |
