An entente cordiale with the taxman

Alain Moreau and Jean-Luc Bochatay examine the French voluntary disclosure regime.

Unlike other European countries, France prevaricated for quite some time before establishing an efficient and stable procedurefor voluntary disclosure offoreign assets. This procedure, a result of the ministerial decision of 21 June 2013, is now in full swing, and has yielded results beyond the tax administration’s expectations.