Bernard Arnault, the head of luxury group LVMH, together with his wife, has been ordered to pay nearly 22.5 million euros in additional taxes following a ruling issued by the Paris Administrative Court of Appeal.
As cited in the ruling mentioned by Agence France-Presse (AFP), the couple must pay 12.96 million euros for 2010. This amount includes tax liabilities, social contributions, penalties and interest accrued due to delays in payment.
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The court also ordered Arnault to pay another 9.5 million euros under France’s solidarity tax for the 2012–2015 period. A spokesperson for Bernard Arnault told AFP that the ruling will be appealed to the Council of State, indicating that the legal battle will continue.
The case is linked to the shareholding structure of LVMH Moët Hennessy Louis Vuitton SE, which has been under investigation by the French tax authorities. According to French media outlet L’Informé, during the inspections carried out, authorities in France also sought assistance from Luxembourg and the Bahamas to analyze the company’s financial structure.
Bernard Arnault is considered the richest person in France and in Europe. According to the Bloomberg ranking, he is currently in eighth place among the world’s richest billionaires, with a fortune estimated at around $165 billion.
