US EditionWall Street Banks Drawn Into Widening French Dividend Tax Audits
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6 Articles
Wall Street Banks Drawn Into Widening French Dividend Tax Audits
Wall Street banks have been drawn into an expanding series of French tax audits that has so far mainly focused on local banks’ involvement in trades allegedly designed to escape dues on dividend payments, according to people familiar with the matter.
The minister of the economy was accused by parliamentarians of having weakened the fight against tax fraud on dividends, or even of having given in to the demands of the French Banking Federation, which he challenged.
At a meeting in Bercy with the rapporteur general and the chairman of the Senate Finance Committee, the Minister of Economy announced that he was abandoning a controversial interpretation of the tax law
The Minister of Economy, Eric Lombard, announced on Thursday 24 July the withdrawal of a text accused by senators of facilitating tax fraud known as "CumCum". The latter rejected criticisms of having weakened the fight against tax fraud on dividends.
lejsl.com
bienpublic.comAn implementing text of Bercy accused by senators of promoting tax fraud on dividends will be withdrawn, said the Minister of Economy on Thursday.
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