Financial Regulatory Forum

France draws up tax blacklist, to apply sanctions

PARIS, Feb 16 (Reuters) – France has drawn up a list of 18 countries accused of failing to cooperate on tax issues, and will slap punitive taxes on certain financial transactions involving them, an official document showed on Tuesday.

The document, obtained by Reuters, was signed by Economy Minister Christine Lagarde and Budget Minister Eric Woerth and lists Central American and Asian countries as well as tiny Caribbean and Pacific island nations.

Dated Feb. 12, it does not mention any European countries.

Under a French law passed late last year, a 50 percent tax will be slapped on dividends, interest, royalties and service fees paid by a person based in France to a beneficiary based in one of the listed countries. This will be applied as of March 1. The previous tax was 15 percent.

A 50 percent tax will also be applied to gains from real estate and securities transactions carried out by persons or companies based in the listed places, according to the law.

The full French list includes: Anguilla, Belize, Brunei, Costa Rica, Dominica, Grenada, Guatemala, Cook Islands, Marshall Islands, Liberia, Montserrat, Nauru, Niue, Panama, Philippines, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and Grenadines.

Bahamas signs tax accord with Britain in step toward OECD compliance

NASSAU, Oct 29 (Reuters)- The Bahamas on Thursday signed a tax information agreement with Britain, in a move it heralded as another step toward inclusion on an Organization for Economic Cooperation and Development (OECD) “white list” of countries that meet internationally agreed tax standards.

(more…)

France to tighten rules on dealing with tax havens

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.

(more…)

INTERVIEW-Bahamas not planning to change offshore laws -PM

Residents of Ocean Isle Beach stand at the end of a road to watch the tide come in as Tropical Storm Hanna makes its way toward the coast of the Carolinas in Ocean Isle, North Carolina September 5, 2008. Tropical Storm Hanna was off the east coast of Florida as it moves away from the Bahamas toward the Carolina coast. Hanna was located about 110 miles east of Daytona Beach, Florida, and 375 miles south-southwest of Wilmington, North Carolina. REUTERS/Chris Keane (UNITED STATES)    By Tom Brown
    MIAMI, Sept 29 (Reuters) – Bahamas will cooperate with specific investigations into suspected tax evaders and fraudsters but will not change its bank secrecy laws to allow
“fishing” in its offshore finance sector by foreign investigators, the country’s prime minister said on Tuesday. (more…)

Monaco, U.S. sign tax cooperation deal

Monaco's Prince Albert II WASHINGTON, Sept 8 (Reuters) – The tiny city-state of Monaco, once on an international black list of the tax havens, signed a deal on Tuesday to abide by international norms in exchanging information about U.S. citizens who may be evading taxes by keeping money offshore. (more…)

Swiss clinch deal as it seeks to shed tax haven label

ZURICH, July 23 (Reuters) – Switzerland’s Finance Ministry said on Thursday that on drafting an agreement with Finland it had brought to 12 the number of tax deals initialled in efforts to be removed from an international “grey list” of tax-havens. (more…)

Switzerland nears removal from tax haven “gray list”

ZURICH, July 15 (Reuters) – Switzerland said on Wednesday it had agreed a new tax treaty with Austria, bringing the total of tax deals to 11 and leaving it only one step away from being removed from an OECD list of tax havens. (more…)

Luxembourg says removed from tax haven “grey list”

Luxembourg Treasury Minister Luc Frieden     LUXEMBOURG, July 8 (Reuters) – Luxembourg has been removed from a “grey list” of countries seen by the OECD as lacking financial transparency, Budget Minister Luc Frieden said on Wednesday.
(more…)

  •