French commerce

Al-Mashat and members of the French Chamber of Commerce discuss cooperation

Dr. Rania Al-Mashat reviews development cooperation efforts with its multilateral and bilateral partners in support of the state’s development plans, in line with the transition to a green economy, while presenting the strategic relationships between the Egypt and France. Egyptian-French relations are reflected in all areas of development and include the strengthening and encouragement of […]

French commerce

Blissim aims to become a major player in e-commerce in Europe

Sold before being bought from Birchbox by its founders, Quentin Reygrobellet and Martin Labas, the French entity of the group, renamed Blissim, has focused for two years on local growth, boosted by the Covid crisis, which is the most favorable to e- trade. “In two years, our turnover has increased from 30 to 50 million […]

French market

Irish grocery price inflation hits highest level since October 2020, says Kantar

Food price inflation in Ireland has risen to its highest level (1.7%) since October 2020 in the past 12 weeks, putting household budgets under pressure, according to the latest data from Kantar. According to Emer Healy, senior retail analyst at Kantar, the number of products sold on promotion fell 3% in January compared to a […]

French market

Carrefour Brasil announces a 13.5% drop in its adjusted net income in the fourth quarter

Carrefour Brasil said its fourth-quarter net profit fell from a year earlier but beat estimates, helped by higher sales. The local unit of the French retailer Carrefour SA recorded an adjusted net profit of 766 million reais (130.3 million euros), down 13.5% compared to the previous year, but higher than the Refinitiv Eikon analysts’ estimate […]

French tax

The fine for French tax evasion of the UBS group (UBS) reduced to 3.75 million euros

Legal hassles escalated to UBS Group AG UBS and its French unit UBS France SA, regarding the bank’s cross-border business activities in France between 2004 and 2012. A court of appeal in France ordered the Swiss bank to pay a fine of 3.75 million euros for solicitation illegal and laundering of tax evasion income from […]

French news

Your catch-up on French Monday news

1. A French nurse faces five years in prison for having issued a false health record A 55-year-old nurse has been charged with providing a false vaccination certificate to an unvaccinated man, and both now face prison sentences of up to five years. The now suspended nurse worked in a vaccination center in Béziers (Hérault), […]

French news

Google agrees to pay the French press agency for the use of online content

Google and the French news agency Agence France-Presse have reached a licensing deal that will see Google start paying for the use of AFP news content, a milestone in a multi-year effort by publishers to news and French regulators to bring the tech giant to the negotiating table. The two sides refused to disclose the […]

French tax

French tax administration starts using aerial shots to find undeclared swimming pools

The French tax administration will analyze aerial imagery to track undeclared home improvements such as swimming pools, verandas and extensions in nine departments starting this month. The nine departments are: Alpes-Maritimes, Ardèche, Bouches-du-Rhône, Haute-Savoie, Maine-et-Loire, Morbihan, Rhône, Vendée and Var. The trial in the nine departments will last a few months, with first results expected […]

French tax

UBS able to absorb large potential fine in French tax ruling, analysts say

UBS Group AG has enough capital to absorb a potential fine of several billion euros in its ongoing tax evasion case in France, analysts say. Swiss bank appeals a 4.5 billion euros fine imposed on in 2019 by a French court of first instance which found him guilty of complicity in tax evasion, claiming that […]

French tax

UBS verdict postponed in € 4.5 billion French tax case | Invest News

PARIS (Reuters) – French judges on Monday deferred a ruling on UBS’s appeal against a historic fine on Monday to December 13, in a case in which the Swiss bank disputed claims it helped high net worth clients hide assets not declared abroad. The judges said the decision had to be delayed due to the […]

French tax

Macron’s government defends tax cuts and French spending with 2022 budget

PARIS, September 22 (Reuters) – The government of French President Emmanuel Macron on Wednesday defended its unprecedented tax cuts and spending in the event of a pandemic as it presented its budget plans for 2022, the presidential election year. Seven months before the poll, right-wing candidates have already attacked the government for the 130 billion […]

French tax

The French tax administration will work with Google to identify undeclared pools

Property tax evaders trying to hide the pools are being targeted by aerial photos and artificial intelligence. As part of a 12 million euro deal with Google and IT company Capgemini, the French tax authorities will use the technology to search for undeclared swimming pools, tennis courts, conservatories and extensions. These “extras” must be declared […]

French tax

US bank reaches 25 million euro deal to settle tax evasion investigation in France

Published on: 02/09/2021 – 16:35 US banking giant JPMorgan Chase has agreed to pay 25 million euros to settle a lengthy criminal investigation into allegations it helped a French investment bank commit tax evasion. France’s financial prosecutor’s office has alleged that JPMorgan helped executives of investment group Wendel set up a profit-sharing entity that allowed […]

French tax

The French tax authorities will work with Google to identify undeclared pools

Property tax evaders who try to hide swimming pools are targeted by aerial photos and artificial intelligence. As part of a € 12 million deal with Google and IT company Capgemini, the French tax administration will use the technology to find undeclared swimming pools, tennis courts, conservatories and extensions. These “extras” must be declared because […]

French news

Google fined 500 million euros for violation of French news negotiation

Google has been fined half a million euros by the French competition authority and could face additional daily fines of € 900,000 until a resolution is implemented. On Tuesday, July 13, 2021, the French competition authority fined Google 500 million euros, equivalent to $ 593 million, for failing to negotiate in good faith with publishers […]

French tax

UBS verdict still in a few months in a French tax case of 4.5 billion euros

PARIS, March 24 (Reuters) – French judges are due to rule in September on Swiss bank UBS’s late appeal against a heavy fine for allegedly helping wealthy clients hide undeclared assets abroad. UBS is seeking to overturn a 2019 French court ruling in which it was found guilty of unlawful solicitation of clients at sporting […]

French tax

UBS faces at least $ 3.6 billion in penalties in French tax lawsuit

FILE PHOTO: The logo of Swiss bank UBS is seen at its headquarters, as the spread of coronavirus disease (COVID-19) continues, in Zurich, Switzerland on February 17, 2021. REUTERS / Arnd Wiegmann PARIS, Reuters The French state is also seeking € 1 billion in damages, the court said in a statement – raising the potential […]

French business

East Coast Bakehouse seeks to raise an additional €5m in equity and debt

Irish biscuit maker East Coast Bakehouse has engaged EY Corporate Finance to raise €5m to acquire more packaging equipment for its Drogheda factory and to fund its working capital needs. Founded in 2015 by Alison Cowzer and Michael Carey, East Coast Bakehouse manufactures cookies from a factory in Drogheda and its products are exported to […]

French tax

UBS hits record 4.5 billion euros in tax appeal in France | Invest News

By Brenna Hughes Neghaiwi and Sarah White ZURICH / PARIS (Reuters) – Swiss bank UBS to begin appeal on Monday against a record fine of 4.5 billion euros ($ 5.37 billion) imposed by a French court for allegedly helping wealthy clients hide assets not declared abroad. The case will be followed by banks across Europe, […]

French tax

UBS launches record-breaking € 4.5 billion appeal in French tax case

ZURICH / PARIS, March 5 (Reuters) – Swiss bank UBS (UBSG.S) will appeal on Monday against a record fine of 4.5 billion euros ($ 5.37 billion) imposed by a French court for allegedly helped high net worth clients hide undeclared assets overseas. The case will be watched by banks across Europe, where fines for tax […]

French tax

UBS heads for record €4.5 billion appeal in French tax case

By Brenna Hughes Neghaiwi, Sarah White ZURICH/PARIS (Reuters) – Swiss bank UBS will begin its appeal on Monday against a record 4.5 billion euro ($5.37 billion) fine imposed by a French court for allegedly helping wealthy clients hide undeclared assets abroad. FILE PHOTO: The company logo is seen at a branch of Swiss bank UBS […]

French news

New details emerge about Google’s payments to link to French news sites

Enlarge / The headquarters of Google. Google will pay 121 French news organizations $76 million over three years to comply with a new French law requiring Google to pay when it uses ‘excerpts’ from news articles, Reuters reports. The payments range from $1.3 million paid to Le Monde to $13,741 for a local weekly called […]

French news

Birth of copyright: Google will pay $ 76 million to French news publishers | Technology news

Documents examined by the Reuters news agency show that Google is prepared to pay $ 22 million annually to 121 French news publications. Alphabet Inc’s Google has agreed to pay $ 76 million over three years to a group of French news publishers to end a more than one-year copyright dispute, according to documents viewed […]

French news

Google signs copyright deal with French media groups

Google, the American internet giant, announced last week that it had reached an agreement with six French newspapers and magazines on the payment of copyright and that discussions with other media groups are continuing with the aim of reach a “framework agreement” by the end of the year. Among the signatories to the agreement are […]

French tax

French tax dispute: Google pays $1.1 billion, Apple could be next

Google has agreed to pay nearly 1 billion euros ($1.1 billion) to settle a French tax dispute. The amount includes €465m in underpaid taxes and a fine of €500m. Google said in a statement that it “agreed” to pay the tax… Reuters reports. Google announced on Thursday that it had agreed to pay 465 million […]

French tax

Google to pay over $ 1 billion in fines to end France tax evasion investigation

PARIS: US Internet giant Google has reached an agreement worth a total of 945 million euros ($ 1.0 billion) to end a tax dispute in France under an agreement announced Thursday in court. The company will pay a fine of 500 million euros for tax evasion, as well as an additional 465 million euros to […]

French tax

Google pays more than a billion dollars to settle French tax affairs

PARIS — Google is paying more than $ 1 billion in fines and back taxes to settle two tax disputes in France, where it has faced years of investigations into whether it has correctly reported all its activities in the country. The French financial prosecutor said on Thursday that a court had approved a 500 […]

French tax

The United States launches an investigation into the French tax on tech giants like Facebook, Apple, Google

Published on: 07/11/2019 – 00:19Amended: 07/11/2019 – 15:16 US President Donald Trump on Wednesday ordered an investigation into France’s plans to tax tech companies, an investigation that could lead the US to impose tariffs in a new trade dispute with the EU . The French Parliament definitively adopted the law on Thursday, making France the […]

French tax

UBS reserves 450 million euros for the French tax file

Through Brenna Hughes Neghaiwi FILE PHOTO: The logo of Swiss bank UBS is seen in St. Moritz, Switzerland February 10, 2017. REUTERS/Stefano Rellandini/File Photo ZURICH (Reuters) – Switzerland’s biggest bank, UBS, announced on Friday an increase of nearly $400 million in its litigation provisions after a French court fined it 4.5 billion euros ( $5.09 […]

French tax

The French tax on internet giants could bring in 500 million euros per year: Le Maire

PARIS (Reuters) – A 3% tax on French income from large internet companies could bring in 500 million euros (£ 568.5 million) a year, French Finance Minister Bruno Le Maire said on Sunday. The Mayor told Le Parisien newspaper that the tax targeted companies with global digital turnover of at least 750 million euros and […]

French tax

UBS to appeal after 4.5 billion euro fine in French tax evasion case

By Inti Landauro, Emmanuel Jarry PARIS (Reuters) – A French court has found Swiss bank UBS AG guilty of unlawful solicitation of clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion ) fines. Shares of the Swiss bank fell 3.2% after Wednesday’s decision. UBS, which has denied […]

French tax

UBS hit with 4.5 billion euro fine in French tax evasion ruling

UBS has been fined a record 3.7 billion euros and ordered to pay 800 million euros in damages in France after a judge found the Swiss bank guilty of helping wealthy clients to escape paying tax. After a six-week trial, the French court found that UBS unlawfully laundered the proceeds of tax evasion and violated […]

French news

Macron under fire after trying to raid French media outlet Mediapart

Mediapart refuse the search on the grounds that the officers did not have a warrant, and he complained that the attempt was a politically motivated effort to uncover his sources. “This raid is both illegal and violent,” Edwy Plenel, editor-in-chief of Mediapart, said in an interview. “It is an abuse of power, which violates the […]

French tax

Apple agrees to pay 500 million euros to end 10 years of tax battle in France

Apple has settled a decade-long tax battle with France, agreeing to pay half a billion euros ($570 million) in back taxes. The French government had accused Apple of evading or avoiding the tax due on sales made in France… The line between tax evasion, which is illegal, and aggressive tax evasion, which is legal, can […]

French tax

French tax on Google, Facebook to apply from January 1, 2019 – POLITICO

A French tax on digital giants including Google and Facebook will come into force on January 1, 2019, Economy Minister Bruno Le Maire announced on Monday. The government, which has lobbied unsuccessfully for a pan-European “digital tax”, hopes the tax will bring in 500 million euros per year in state coffers. The Mayor had previously […]

French news

How pioneer Mediapart defined the French news agenda | France

It started with a handful of journalists disappointed with the state of the country’s established media, a high bank loan and an even greater injection of optimism. Ten years later, the French investigation site Mediapart has become a thorn in the side of politicians, public figures and those with something to hide. Over the past […]

French news

French news site L’Express exposed reader data online, weeks ahead of GDPR deadline

(Image: File photo) NEW YORK; PARIS — The French news weekly L’Express left a server containing a database of its readers exposed online for weeks without a password. Even after the Paris-based magazine was notified of the exposure, the database was not secured for a month, leaving its contents accessible and downloadable by anyone, including […]

French tax

The heir to the artistic dynasty Guy Wildenstein cleared of a French tax fraud of 550 million euros | France

The scion of Franco-American artistic dynasty Guy Wildenstein has been cleared of French authorities for hiding paintings and properties worth hundreds of millions of euros after one of the biggest tax evasion trials ever staged in the country. State prosecutors had wanted the 71-year-old to be sentenced to two years in prison and fined 250m […]

French tax

French tax authorities are turning a hungry eye on McDonald’s

PARIS – The French headquarters of McDonald’s has been raided by financial investigators, the latest salvo in a campaign by the government of President François Hollande to force multinationals to pay more taxes. A police official, who could not be named under departmental policy, said Thursday that documents were removed during the May 18 search. […]

French tax

French tax authorities investigate Karl Lagerfeld for tax evasion

The new year may have begun, but an old trend seems to refuse to go out of style: big names in the luxury industry breaking the law for alleged tax evasion. The final high profile name in question is Karl Lagerfeld. French authorities announced on Thursday that the Chanel designer was the subject of a […]

French tax

Karl Lagerfeld in talks with the French tax authorities – WWD

PARIS — Karl Lagerfeld, one of the hardest-working and best-paid fashion designers, is under the control of the French tax authorities. The revelation was made by the French news weekly L’Express, which published a three-page article on Wednesday under the title “L’argent voyageur de Lagerfeld”, or “L’argent voyageur de Lagerfeld” in English. The report alleges […]

French tax

French taxation exceeds 100%

Flag of France (Photo credit: Wikipedia) More than 8,000 French households paid taxes exceeding 100% of their income, according to data from the French Ministry of Finance. To see Taxes on Some Wealthy French Top 100% Earners. You may scratch your head in disbelief. How is it possible? In the United States, you might guess […]