French billionaire businessman not to seek tax breaks on Notre Dame donation

The family of French billionaire businessman Francois-Henri Pinault said it would not be seeking any tax breaks regarding its 100 million euros ($113 million) donation for repair work to the city's damaged Notre-Dame Cathedral. Earlier this week, Pinault had made the pledge alongside other top French business leaders and companies. Donors have so far pledged more than 700 million euros to rebuild Notre-Dame.

Charitable donations in France normally benefit from a more than 60 per cent deduction against tax. ($1 = 0.8837 euros)