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27 may 2015

Banks committed to combating tax fraud


French banks support all efforts to combat fraud and tax evasion and enforce the requirements imposed in this regard. The multilateral agreement developed by the OECD, signed on 29 October 2014 by 51 jurisdictions, including France, aims at implementing the Standard for Automatic Exchange of Financial Information in Tax Matters.

The Directive of 9 December 2014 establishes the mandatory automatic exchange of information in the field of taxation within the European Union.

Lastly, banks are enforcing US rules combating tax evasion (Foreign Account Tax Compliance Act or FATCA) pursuant to the intergovernmental agreement signed between France and the United States.

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