France has updated its tax haven blacklist. The update brings good news for Botswana which was removed from the list since the diamond-producing country “has complied with the rules on the exchange of information on taxable entities,” the French authorities said.
However, the archipelago Seychelles have been added to the list and Gérald Darmanin (pictured), the French Minister of Action and Public Accounts said the country, like the three others that have been added, has refused to comply with the rules on information sharing. France said this means that transfers of funds to these countries will now be subject to tighter conditions.
Criticizing the decision, Oxfam France in a tweet said that updating the tax haven blacklist every year, without properly regulating the access of companies listed on the French financial market, is inconsistent. It recalls that in 2016, one of its reports showed that several CAC 40 companies had thousands of subsidiaries in tax havens.
Also, France was presented in 2019 by the British non-governmental organization Tax Justice Network as one of the most aggressive OECD countries in obtaining favorable tax treatment in Africa. Indeed, several tax agreements in the mining, services or agribusiness sectors would allow subsidiaries of French companies to pay less income tax in many African countries.
Idriss Linge
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Kenya launches initiative linking local and Thai tech firms Nairobi event connects 14 Thai and 50+ Kenyan companies Move aims to boost partnerships,...
Tinubu approves 3.3 billion naira plan to settle power debts 15 plants sign 2.3 billion naira agreements; implementation underway Power shortages...
Chinese firms set to join $1.24B TAZARA rail upgrade as shareholders Project strengthens China-backed route for copper exports via...
Uganda showcased coffee, tea and dairy products in Shanghai to expand exports to China Coffee exports reached $2.4bn in 2025, making Uganda...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...