Summary
French MPs Thursday overwhelmingly backed a government proposal to force the bosses of big French companies to declare their income in France, part of a bid to halt the tax flight of the rich.
Budget Minister Gerald Darmanin said the proposal, adopted by the National Assembly, would apply to about 1,500 leaders of 765 companies with turnover in excess of 250 million euros ($276 million).
In 2012, France's richest man Bernard Arnault, head of the luxury goods conglomerate LVMH, came under fire after it emerged he had applied for a Belgian passport at a time when the government was mulling a 75 percent tax on top earners.
The government had initially proposed applying the measure to bosses of companies with revenues in excess of 1 billion euros but later backed an amendment brought by three left-wing and one centrist party to lower the bar to 250 million euros.
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