Gerard Depardieu - Gerard Depardieu is quitting France over tax

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Gerard Depardieu is selling his luxury Paris home for over £40 million because of France's new tax increase.

The 63-year-old French actor has listed his 10-bedroom property for sale at the huge price (50 million Euros) and is quitting his home country because he is unhappy with French President Francois Hollande's new 75 per cent super-tax on the country's highest earners.

The luxurious home is a renovated 19th century building which boasts 20,000 square-foot of space and has 20 separate rooms.

Depardieu has also threatened to hand back his French passport in protest at the new legislation and has blasted French Prime Minister Jean-Marc Ayrault for derogatory comments he made about the 'Green Card' star over his decision to move to Belgian town Nechin just across the border to apparently avoid paying more tax.

In an open letter published in the Le Journal du Dimanche newspaper on Sunday (16.12.12), Depardieu said: ''I am handing over to you my passport and social security, which I have never used. We no longer have the same homeland, I am a true European, a citizen of the world, as my father always taught me to believe ... Unfortunately there's nothing left for me to do here, but I will continue to love the French, the public with whom I've shared so many emotions! I leave because you consider that success, creation, talent, difference, in fact, should be sanctioned ... Despite my excesses, my appetite and love for life, I am a free being, Sir, and will remain polite.''

In his letter Depardieu - who is known for his love of wine and occasionally eccentric behaviour - also revealed his 2012 tax bill, 85 percent of his revenue, has been paid in full.

The 'Life of Pi' star also insisted he had worked since he was 14 and over 45 years he has paid 145 million Euros (£118 million) in taxes.


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