France to impose heavy taxes

The French government says it plans to impose heavy taxes on domestic firms that have operations in 18 countries it considers tax havens.



The countries on the French list include Anguilla, Belize, Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia and St Vincent and the Grenadines.



French media say France is pushing ahead with its own blacklist of uncooperative offshore financial centres, those which have failed to sign enough international agreements on sharing tax information.



It is targeting French firms directly.



For example, the tax on dividends, interest and licence fees that flow through the 18 tax centres will be raised from 15 to 50 per cent.