TAX REFORM
PLANNED BY FRANCE PARIS, Dec. 5. With a deficit, of from eight to nine billion francs for the 1932-33 Budget, the French Ministry of Finance is proposing vast recoveries by the simple suppression of frauds in taxation. Just how many hundreds of millions of francs the State is deprived of annually through fraudulent returns is as yet unknown, but the Harriot Government is determined to exploit this vein, where so many preceding Governments have failed. One of the first objects of reform is (lie alleged fraudulent return on rights of succession. In this field of inheritance alone, the. 1933 Budget designers hope Lo recover at least one billion francs.. Since 1903, French finance ministries have endeavored to have the succession jaws tightened. There exist certain decrees requiring banks, credit organisatons and trusteeships to report to the Government the kind and amounts of properly and money held for inheritance. The difficulty has always been that'practically no check was thus obtainable on funds deposited in foreign banks for beneficiaries.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 17977, 3 January 1933, Page 7
Word Count
169TAX REFORM Poverty Bay Herald, Volume LX, Issue 17977, 3 January 1933, Page 7
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