France wants a new Blacklist of jurisdictions failing to meet international tax transparency standards
The French Government wants the G-20 to draw up a new blacklist of jurisdictions failing to meet international tax transparency standards.
The French Ministry of Finance has proposed that the blacklist would be based on the country evaluations of the Global Forum on Transparency and Exchange of Information. Jurisdictions placed on the blacklist would then be subject to countermeasures “coordinated between different states.” The Ministry does not put forward proposals for the content of those measures.
France intends to seek an agreement on its proposal at this week’s two-day meeting of G20 finance ministers and central bankers in Washington D.C., which began on April 13. It also called on the EU to agree to a new Directive allowing “common measures” to be applied against uncooperative jurisdictions by all 28 member states.
As the fall-out from the Panama Papers affair continues, the Ministry of Finance also said that it wants Panama to supply details of all French taxpayers with connections to the Central American country. However, it said that the double tax avoidance treaty between France and Panama would have to be renegotiated before this could take place.
Source: Tax News
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