24/06/2013
Exchange of information: France to introduce blacklist in '16
P { margin-bottom: 0.08in; } Countries which refuse automatic exchange of information for tax purposes will be added to a list of uncooperative states by France from 2016, due to an amendment passed by the government. The date of application for the changes would thus be later than the US automatic information exchange (FATCA) agreement, which is schedued for September 2015.“Such an approach has the advantage that it is dynamic and allows France to concentrate on the genuine challenges of offering incentives in a context marked by a strong engagement to promoting tax transparency,” the government claims in an explanation of its amendment to a proposed law to combat tax fraud, passed on Thursday evening.The countries of the G8 early last week pledged to automatically exchange inforamtion, which is considered a deadly weapon in the war on tax havens, the “new global standard” to combat these flows.
