Daily Management Review

French Corporate Executives Are Under Tax Scrutiny


12/31/2018


French government to take “any necessary measures” if the “company heads of companies listed in France” are not found to be “tax residents in France”.



Source: flickr.com, Photo: Arno Mikkor
Source: flickr.com, Photo: Arno Mikkor
The government of France brings the French listed company chiefs under its scrutiny as measure to ensure their compliance with tax regulations in France, informed the “Budget Minister Gerald Darmanin”.
 
Moreover, the President of France, Emmanuel Macron has earlier, during a speech in December, hinted on becoming stricter on “corporate tax affairs”. The speech of the president attempted to quell unrest that has taken over France in the wake of “violent protests” weeks concerning “a perceived squeeze on household incomes”.
 
Talking to the “Journal du Dimanche”, Darmanin stated:
“As the president has said, the heads of companies listed in France, or which count the French state as a shareholder, must under all circumstances be tax residents in France. We’re in the process of making sure of that, and we’re ready to take any necessary measures if it were not the case.”
 
However, no further details were disclosed by Darmanin regarding the government eyeing “any particular companies”. Lately, President Macron has seen a growing “discontent” in the citizens which came out in the form of “street protests over the past month” while the plan of hiking fuel tax, which was cancelled by the president, has been at the root of this boiling anger.
 
The protesters were called “yellow vest”, the name has been borrowed from the “high visibility gear” which the drivers in France need to carry in the cars for emergency purposes. However, these protesters’ demonstrations made their presence felt on Saturday and also, in many cities, they faced the police force, nevertheless “turnout was down from previous weeks”.
 
So far, the President continues to refuse the reinstatement of “a wealth scrape” that was scrapped by him sometimes “early into his tenure in 2017”. Following this step, the President has been tagged by the critics as the “president of the rich”. And the president seen struggles to “shake off” the same tag. However, Reuters informs that:
“But he made other concessions to protesters, including by announcing wage rises for the poorest workers and tax cuts for pensioners”.
 
 
References:
reuters.com







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