The conflict over a French billionaire’s decision to apply for Belgian citizenship escalated after a newspaper printed a front-page banner headline reading “Get lost, you rich jerk” .

The incident has generated a  nationwide debate over tax policy, even though Bernard Arnault, chairman and chief executive of luxury-goods giant LVMH Moët Hennessy Louis Vuitton SA, MC.FR -4.39% has said he will still pay French taxes.

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