On 5 November 2013, the French Parliament voted in favour of a
new Act introducing a trust registry to fight against tax evasion.
This new Act needed a decree to be implemented. The decree was
issued on 10 May 2016 and the registry is now available online as
of 5 July 2016.
The registry is available to view on the French tax
authorities' website at www.impots.gouv.fr.
This registry allows users to access information regarding
trusts with French connections, being trusts which have been
disclosed to the French tax authorities because the settlor and/or
at least one of the beneficiaries of the trust is a French tax
resident or an asset held in the trust is a French-sited asset
within the meaning of Article 750 ter of the FTC, even if
the settlor and/or the beneficiaries are not themselves French tax
Anyone with a French tax number (to be a French tax payer) and
credentials can access the registry through his online personal tax
account (personal pages).
So far, the Ministry of Finances has indicated that 16,000
entities regarded as trusts have been identified and are known to
the French tax authorities.
The following information is available on the registry:
identification of the trust (name and address); date of
constitution/termination of the trust; identification of all
settlors and beneficiaries of the trust; identification of the
The registry also indicates the date and nature of all the
declarations which have been sent to the French tax authorities in
respect of a trust under the trustees' filing obligations.
One can search the registry by entering the name of the trust or
the name of one member of the trust.
The French tax authorities know who has consulted the registry
and which information has been accessed. The French tax authorities
keep this information for a year (i.e. the tax number of the user,
his IP address and the date and hour of the search).
The general conditions for using the registry (made of 15
articles) which must be accepted by a user before accessing the
registry provide that he is not allowed to divulge any of the
information obtained from the registry. Criminal offences apply to
users who infringe this condition of confidentiality.
Having said this, it should be noted that the registry has
already been challenged by way of emergency proceedings before the
French Administrative Supreme Court ("Conseil
d'Etat") by a French tax resident beneficiary.
The fact that this registry has been made public clearly
triggers various legal issues and constitutes an obvious
infringement of privacy.
Will the registry remain consultable under its current format?
The Administrative Supreme Court is due to rule on this on 19 July
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The prospect of an internal investigation raises many thorny issues. This presentation will canvass some of the potential triggering events, and discuss how to structure an investigation, retain forensic assistance and manage the inevitable ethical issues that will arise.
From the boardroom to the shop floor, effective organizations recognize the value of having a diverse workplace. This presentation will explore effective strategies to promote diversity, defeat bias and encourage a broader community outlook.
Staying local but going global presents its challenges. Gowling WLG lawyers offer an international roundtable on doing business in the U.K., France, Germany, China and Russia. This three-hour session will videoconference in lawyers from around the world to discuss business and intellectual property hurdles.
Jonathan Sheehan gives an Irish perspective in the October 2016 edition of The American Lawyer on the European Commission's decision that Ireland granted undue tax benefits of up to EUR13 billion, plus interest, to Apple.
Three of my favourite topics feature in this issue of the Denton Briefing – tax, Bond and beer. But not necessarily in that order and not necessarily for the right reasons.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).