Financial Times FT.com

French wealthy stand to profit from tax reforms

By Peggy Hollinger and Martin Arnold in Paris

Published: October 22 2005 03:00 | Last updated: October 22 2005 03:00

French executives stand to receive big tax gains under two separate reforms unveiled this week, as the government seeks to widen share ownership and reverse a trend that has seen a millionaire a day quit the country on average since 1997.

Thierry Breton, finance minister, has announced plans to abolish capital gains tax on shares owned for at least eight years.

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