PARIS — France will not pay emergency cash to businesses based in fiscal paradises, Finance Minister Bruno Le Maire said today.
“If your headquarters is located in a tax haven, it is obvious that you will not be able to benefit from public aid,” he said on France Info radio.
“If you have benefited from the state’s cash flow, you cannot pay dividends and you cannot buy back shares,” he added.
The French list of tax havens includes 13 states, but not the Netherlands, Luxembourg, Malta or Delaware.
Senators from the Communist and Conservative group tried to pass an amendment yesterday to formally add this condition in legislation currently being discussed, but a finance ministry official told POLITICO that there is no need for such a legal basis on whether aid is approved or not.
A vote is, however, expected in a joint committee today about the amendment.