French tax authorities have reportedly collected 1.3 billion in unpaid taxes and fines from nearly 30,000 tax evaders with secret bank accounts overseas.
Citing a report by Journal du Dimanche newspaper, rfi reported French finance Minister Michel Sapin saying that the government aims to collect 1.8 billion in unpaid taxes by the end of the year.
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Sapin added that there is a steady flow of secret account-holders who have come clean with the 336 billion since mid-June.
"This fiscal income will easily allow us to finance this year’s tax cuts for low-income families and it will continue next year," Sapin added.
Till date, French officials had received 29,024 applications to come clean with the average sum in accounts being 1 million.
Sapin expects that 28 billion stowed abroad has been collected and that will boost future tax receipts.
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