France to seek documents behind Panama papers – finance ministry
French Finance Minister Michel Sapin attends a news conference to announce the 2015 results of the French customs in Paris - REUTERS
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PARIS: The French government will seek access to the documents behind the “Panama Papers” revelations about potential offshore tax evasion and will punish tax evaders, the finance ministry said on Monday.

“In application of the tax conventions with its partners, France will seek the transmission of the ‘Panama papers’ data,” Finance Minister Michel Sapin said in a statement.

He added that once authorities have acquired and verified this information, it will review the taxes of the individuals concerned and any apply penalties, notably for non-declared foreign bank accounts and shell companies.

French President Francois Hollande said earlier on Monday that the “Panama Papers” revelations were good news that would help boost tax revenues.

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