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French Finance Minister Shrugs Off Tax Hike Calls

Ulrika Lomas, Tax-News.com, Brussels

04 March 2015


France's Finance Minister, Michel Sapin, has confirmed that he has no immediate plans to increase taxes.

Speaking in an interview on RTL Radio, Sapin responded to questions on the increased pressure faced by France from the European Commission on deficit reduction. The Minister reiterated his Government's resistance to tax increases and instead stressed ongoing efforts to support economic recovery. He expressed a preference for measures to tackle non-compliance, rather than raising France's already-high tax rates.

Sapin drew particular attention to legislation introduced to tackle offshore tax evasion in 2013. These measures yielded EUR2bn (USD2.2bn) in 2014 and look set to provide similar revenues in 2015. He acknowledged, however, that the windfall from these new regulations will not continue forever.

TAGS: compliance | Finance | tax | European Commission | budget | offshore | legislation | tax rates | France | regulation | Europe

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