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BELGIUM

Depardieu puts Paris mansion on market

French actor Gérard Depardieu, under fire for becoming a tax exile, is selling his historic Paris mansion, real estate agents Daniel Feau said Thursday amid reports of a 50-million-euro price tag.

Depardieu puts Paris mansion on market
Gérard Depardieu poses with locals close to his new home in Belgium. Photo: Philippe Huguen/AFP

The hotel de Chambon in the heart of the Saint-Germain-des-Prés quarter, home to several global celebrities, is a listed property with a living area of 1,800 square metres (19,300 square feet), Daniel Feau said.

Built in 1820 for the Baron de Chambon, it boasts gardens and a swimming pool – rare and highly-prized assets in the centre of the French capital.

Daniel Feau would not confirm media reports that the actor, who acquired the property in 2003, was asking €50 million ($65 million).

Depardieu, 63, has joined some of France's wealthiest business figures in Belgium following moves by the Socialist government to tax annual incomes above one million euros ($1.3 million) at 75 percent, as well as hiking taxes on "grand fortunes" and inherited assets.

His move has been denounced as "pathetic" by Prime Minister Jean-Marc Ayrault.

The tax measures would potentially hit Depardieu hard. The Cyrano de Bergerac star can command up to two million euros per film.

He also has extensive business interests, including wine estates and three restaurants in the centre of Paris.

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Beskæftigelsesfradraget: What is Denmark’s employment allowance?

Denmark's government may soon announce changes to its tax reform plans, which will give all wage earners a bigger employment allowance. What is this and how will it affect foreigners' earnings?

Beskæftigelsesfradraget: What is Denmark's employment allowance?

What is the employment allowance? 

The Beskæftigelsesfradraget (from beskæftigelse, meaning employment, and fradrag, meaning rebate) was brought in by the centre-right Liberal Party back in 2004, the idea being that it would incentivise people to get off welfare and into a job.

Everyone whose employer pays Denmark’s 8 percent AM-bidrag, or arbejdsmarkedsbidrag, automatically receives beskæftigelsesfradraget. Unlike with some of Denmark’s tax rebates, there is no need to apply. The Danish Tax Agency simply exempts the first portion of your earnings from income taxes. 

In 2022, beskæftigelsesfradraget was set at 10.65 percent of income with a maximum rebate of 44,800 kroner. 

How did the government agree to change the employment allowance in its coalition deal? 

In Responsibility for Denmark, the coalition agreement between the Social Democrats, the Liberals and the Moderate Party, the new government said it would set aside 5 billion kroner for tax reforms.

Of this, 4 billion kroner was earmarked for increasing the employment allowance, with a further 0.3 billion going towards increasing an additional employment allowance for single parents.

According to the public broadcaster DR, the expectation was that this would increase the standard employment  allowance to 12.75 percent up to a maximum rebate of 53,600 kroner. 

How might this be further increased, according to Børsen? 

According to a report in the Børsen newspaper, the government now plans to set aside a further 1.75 billion kroner for tax reforms, of which nearly half — about 800 million kroner — will go towards a further increase to the employment allowance. 

The Danish Chamber of Commerce earlier this month released an analysis in which it argued that by raising removing all limits on the rebate for single parents and raising the maximum rebate for everone else by 20,300 kroner, the government could increase the labour supply by 4,850 people, more than double the 1,500 envisaged in the government agreement. 

According to the Børsen, the government estimates that its new extended allowance will increase the labour supply by 5,150 people.  

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