French Tax Agency Seeking €2.5 Billion From Banks for Tax Dodge
Budget Minister Gabriel Attal
Photographer: Bertrand Guay/AFP/Getty Images
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France’s tax authority is seeking €2.5 billion ($2.7 billion) in back taxes from French banks over their roles in a dividend arbitrage strategy known as “Cum-Cum,” according to Budget Minister Gabriel Attal.
Attal made the comment in a Senate hearing on May 2, though it went unreported until Le Monde published an article on Monday, citing the statements. A spokesman for Attal’s office confirmed the figure.