- Update of The French List of Non-Cooperative Jurisdictions
- January 13, 2016 | Authors: Nicolas Andre; Siamak Mostafavi
- Law Firm: Jones Day - Paris Office
- The French Ministry of Economy and Finance published on December 21, 2015 a decree under which the British Virgin Islands and Montserrat have been officially withdrawn from the list of non-cooperative jurisdictions (NCJ List).
The effect of the NCJ List is to trigger the application of a particularly penalizing set of French tax rules (e.g., 75 percent withholding tax on payments to such jurisdictions).
This removal is effective retroactively as of January 1, 2015. Taxpayers will be able to request a refund of withholding tax levied in accordance with these rules upon request to the FTA.