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France investigating 500 taxpayers after Panama Papers leaks

Associated Press Associated Press 17/11/2016

PARIS — The French government is investigating the tax records of about 560 taxpayers based on leaked documents from a Panamian law firm.

The budget office of the Finance Ministry said Thursday its experts have studied the leaked information and are now digging deeper into 560 specific cases. It didn't identify any of the taxpayers involved.

Other countries have announced similar investigations based on the Panama leaks, involving documents from law firm Mossack Fonseca that exposed the tax-evading practices of wealthy clients around the world.

The French government has brought in billions of euros in repatriated funds in recent years in stepped-up efforts to crack down on offshore accounts in tax havens.

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