150,000 could be dodging French tax

TAX-PAYERS in France who have bank accounts in other countries have been urged to come clean about them to the tax authorities.

Budget minister Eric Woerth believes between 100,000 and 150,000 people have foreign accounts that they have failed to declare.

The government estimates it is missing out on between €50bn and €100bn of unpaid tax on money earned overseas and savings kept in accounts outside France.

"It is difficult to put an exact number on it," Woerth told Europe 1. "All I know is something needs to be done. We need more transparency."

He added: "I would appeal to anyone with an undeclared account in a foreign country to come and get their affairs in order with the tax authorities."

France has already obtained the names of 3,000 people with undeclared accounts in Switzerland, some of whom are thought to be deliberating holding money there to avoid tax.

The Swiss account-holders have been given until the end of December to ensure they are playing by the rules or face a full tax investigation.