LVMH Set to Pay €800 Million Tax Increase to Ease France’s Debt

LVMH is expecting to pay as much as €800 million ($870 million) in additional taxes next year after France announced plans to raise levies on its biggest companies to help shore up public finances.

Speaking during an analyst call Tuesday, LVMH Chief Financial Officer Jean-Jacques Guiony said the additional corporate taxes should range between €700 million and €800 million for the Paris-based company.

Last week, France unveiled a draft budget that includes higher taxes on businesses and the wealthy in an effort to trim its large debt pile. Under the plans, temporary levies on more than 400 profitable companies with ...