Measures aimed at stamping out tax fraud and evasion netted the French government a staggering €17.9 billion (US$20.8 billion) in 2017.
But according to an annual report from the country's General Directorate of Public Finance (DGFIP), the sum amounts to €1.6 billion (US$1.9 billion) less than in 2016 when €19.5 billion (USUS$22.7 billion) was retrieved. It is also €3.3 billion (US$3.8 billion) less than in 2015.
The figures highlight the success of the Ministry of Finance's so-called ‘drunk tank', a scheme that allows people with bank accounts hidden overseas to legalise their tax situation in return for light penalties. This measure alone was responsible for sums of more than €1.3 billion (US$1.5 billion) being retrieved in 2017, Le Parisien reported.
The neighbourhood of Bercy in Paris also recovered €9.4 billion (US$10.9 billion) in 2017 from old tax revenue owed by tax evaders following legal disputes, according to The Local.
If caught, defrauders usually face five years behind bars and €500,000 (US$581,632) in penalties.
Overall, France's tax earnings increased from €594 billion (US$691 billion) to €601 billion (US$699 billion) in 2017. The annual amount of income tax recovered also rose from €76.5 billion (US$89 billion) in 2016 to €77.6 billion (US$90.3 billion) in 2017.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
Measures aimed at stamping out tax fraud and evasion netted the French government a staggering €17.9 billion (US$20.8 billion) in 2017.
But according to an annual report from the country's General Directorate of Public Finance (DGFIP), the sum amounts to €1.6 billion (US$1.9 billion) less than in 2016 when €19.5 billion (USUS$22.7 billion) was retrieved. It is also €3.3 billion (US$3.8 billion) less than in 2015.
The figures highlight the success of the Ministry of Finance's so-called ‘drunk tank', a scheme that allows people with bank accounts hidden overseas to legalise their tax situation in return for light penalties. This measure alone was responsible for sums of more than €1.3 billion (US$1.5 billion) being retrieved in 2017, Le Parisien reported.
The neighbourhood of Bercy in Paris also recovered €9.4 billion (US$10.9 billion) in 2017 from old tax revenue owed by tax evaders following legal disputes, according to The Local.
If caught, defrauders usually face five years behind bars and €500,000 (US$581,632) in penalties.
Overall, France's tax earnings increased from €594 billion (US$691 billion) to €601 billion (US$699 billion) in 2017. The annual amount of income tax recovered also rose from €76.5 billion (US$89 billion) in 2016 to €77.6 billion (US$90.3 billion) in 2017.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
