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France to replace 'Exit Tax' on capital gains, target fiscal cheats
France will abolish a tax imposed on the capital gains of top earners and entrepreneurs who leave France and sell their assets with a more-targeted levy designed to deter tax optimisation, a finance ministry spokesman said on Saturday. France imposed the so-called Exit Tax in 2011 during the presidency of Nicolas Sarkozy. A finance ministry spokesman said the new anti-abuse mechanism would concern asset sales made up to two years after an individual leaves France.
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