On 5 May 2023, French Minister for public accounts unveils anti-fraud measures targeting international tax and customs activities. Key elements of these measures include lowering the annual turnover threshold that triggers the requirement for multinational corporations to present transfer pricing documents, extending the statute of limitations for cross-border intangible transfers, and implementing a “tax indignity” penalty that denies convicted taxpayers any tax benefits.
To bolster enforcement, the French government plans to increase tax audits on the largest multinational groups by 25 percent until 2027 and establish a specialized audit team dedicated to tackling international tax fraud. Additionally, efforts will be made to enhance international tax transparency, enabling tax authorities to gain a comprehensive overview of taxpayers’ global assets.
While the specifics of these measures will be detailed in a comprehensive global plan to counter international tax fraud, the main provisions are expected to be included in the 2024 Finance Bill. These initiatives highlight France’s commitment to safeguarding tax systems and promoting fair taxation practices.
