France draws up tax blacklist, to apply sanctions

PARIS, Feb 16 – 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 will be reviewed on Jan. 1, 2011, taking into consideration any progress in the listed countries’ compliance with global tax rules.

Leaders of the Group of 20 economic powers launched a campaign last year to name and shame countries that failed to improve tax standards and transparency.

The Organisation for Economic Cooperation and Development (OECD) last year published a “grey list” of countries accused of not fully implementing internationally agreed tax standards.

For related news, please refer to:

  • http://blogs.reuters.com/financial-regulatory-forum/2010/02/16/france-draws-up-tax-blacklist-to-apply-sanctions/
  • http://www.vistandpoint.com/money-and-business/4498-france-develops-blacklist-of-jurisdictions
  • http://www.taxationinfonews.com/2010/02/france-creates-own-tax-blacklist/