💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

France to tighten rules on dealing with tax havens

Published 10/07/2009, 09:32 AM
Updated 10/07/2009, 09:36 AM

PARIS, Oct 7 (Reuters) - The French government plans to strengthen its fiscal rules towards countries on the OECD's tax "grey list" that have not signed bilateral agreements with France, Prime Minister Francois Fillon said on Wednesday.

The Organisation of Economic Cooperation and Development (OECD) published in April a so-called "grey list" of jurisdictions they said fell short of full compliance with internationally agreed tax standards.

Fillon said the government would introduce new steps to tighten the rules by the end of the year.

"It will penalise financial flows with non-cooperative tax havens, increase tax rates on flows arriving and leaving from these havens and strengthen anti-abuse measures," Fillon said in a speech to parliament.

France has increased pressure on tax havens to comply withh international rules.

Last week French banks promised to close all their branches and outlets in jurisdictions considered to be tax havens from March 2010 onwards. (Reporting by Anna Willard, editing by Mike Peacock)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.