French Tax Agency demands €2.5 billion from banks over tax evasion allegations

France’s tax authority is seeking €2.5 billion ($2.7 billion) in back taxes from French banks over their roles in a dividend arbitrage strategy known as “Cum-Cum,” according to Budget Minister Gabriel Attal.

Attal made the comment in a Senate hearing on May 2, though it went unreported until Le Monde published an article on Monday, citing the statements. A spokesman for Attal’s office confirmed the figure.

Read More : French Tax Agency demands €2.5 billion from banks over tax evasion allegations