Anti-avoidance measures against tax fraud officially announced – details

On 10 April 2013, the Council of Ministers published an official communication on a new set of anti-avoidance measures to fight against tax fraud. The text will be submitted to the Council of Ministers on 24 April 2013. The key elements are summarized below.

Hardening of reporting obligation

To harden the fight against tax havens, large companies, banks, and wealthy individuals will bear new reporting obligations. Thus, French banks and companies will be required to report annual…