France has drawn up its own list of 18 states it sees as tax havens and plans to impose punitive taxes on French companies which have a presence there, according to documents seen by AFP Monday. Caribbean states, Costa Rica and Panama in central America, and the Philippines and Brunei join Pacific islands in the list of "uncooperative" countries finalised last week, according to a government order.
The list, which includes states that figure on an OECD list of countries that have yet to implement internationally agreed tax standards, was decided under France's 2009 budget law adopted in December. Paris plans to tax at 50 percent - compared to the current maximum of 33 percent - dividends, interest and license fees paid by French firms to people or other firms domiciled in tax havens, according to the document.
The tax list by the Paris-based Organisation for Economic Cooperation and Development (OECD) has three categories, with countries put in the bottom category as a means to shame them into making changes. The so-called "grey" category is in the middle and includes territories that have committed to standards set by the OECD on the exchange of tax information, but which have not yet fully implemented the 12 agreements needed to move to the top category.
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