In 2008, former president Nicolas Sarkozy granted Qatari investors exemptions from taxes on profits from the sale of properties in France.
Similar to London, Qatar’s royal family has since built up a portfolio of assets ranging from a Champs-Elysees shopping mall to the Lido cabaret.
Speaking to French television channel BFM, Bayrou said: “Under the responsibility of Nicolas Sarkozy, France gave Qatar an incredible tax advantage.
“Can this situation continue? I don’t think so. I think it’s very important that in France we have tax fairness.”
During his election campaign earlier this year, president Emmanuel Macron also said he wanted to end Qatar’s tax concessions.
The remarks come just days after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain cut ties with Qatar over its links to Islamist militants – allegations the peninsular state has denied.
The move has had a knock-on effect on financial sector in the UAE, with one industry source telling International Adviser, that companies which do a lot of cross-border business out of the Dubai International Finanical Centre (DIFC) being heavily affected.
Executives are unable to travel between the countries anymore, all financial transactions are on hold, and banks in the UAE have been told by the Central Bank to halt all new business with Qatar.
