Tensions increase between the Senate and Bercy in the explosive archive of “Cumcum”. In line of vision: an estimated tax tax between 1.5 and 2 billion euros per year and an empty reform of its substance by the administration.
On Thursday morning, Jean-François Husson, Rasthapporteur del General (LR) of the Senate Budget, went to Bercy to control the pieces and on the site. A rare act, which reflects the determination of the finance committee not to let go in this case.
Small reminder: the “Cumcum” is this assembly that allows foreign shareholders of French companies to temporarily transfer their titles to a bank around the payment of dividends, to escape the restriction of the source. The process is not illegal in itself, but it can become fraudulent if the only objective is tax evasion.
BNP Paribas, Société Générale, Natixis: Several important French banks are cited regularly in the use of these assemblies. And the invoice for the state is salty.
Given this, the senators had hardened the legislative framework in the financial law of 2025. But in April, a tax instruction published discreetly in the Official Gazette of Public Finance (Bofip) came to sabotage the reform, according to the Finance Committee.
On the Bercy side, it is feared that the corrective of the Senate despite the appeal of the Paris Financial Center.
Result: The atmosphere is now with knives drawn between the Senate and Bercy.
The next round will take place next Wednesday, during current problems in the government in the Senate, where the Minister of Economy and Finance, Éric Lombard, can spend a dirty room of one hour.
Source: BFM TV
