France recovered record 12b euros in taxes last year

[PARIS] French tax sleuths helped the state recover almost 12 billion euros in 2019, Budget Minister Gerald Darmanin said Wednesday on Twitter, calling it a "record" year.

According to figures published by the financial daily Les Echos and confirmed by the economy ministry, revenue obtained following tax audits accounted for almost 11 billion euros (S$16.7 billion).

On top of this, rectified declarations added 358 million euros and judicial arrangements involving Google and asset management firm Carmignac another 530 million euros, the figures showed.

The amount is more than a previous estimate of nine billion euros made by Prime Minister Edouard Philippe in mid-February.

"In February, we only had consolidated data up until the start of October," Mr Darmanin told Les Echos.

The final figure also represents an increase of around 50 per cent over the total for the previous year and two billion euros more than the previous record year in 2015, the ministry of public accounts told AFP.

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AFP