Monday, November 14, 2016

Kerviel: Bercy would have launched a procedure for claiming 2.2 billion of taxes to the Society in General –

The registered office of the Company general Defence. – ERIC FEFERBERG / AFP

TAX ADMINISTRATION According to ” Les Echos “, the tax administration would have launched a procedure to obtain the refund of a tax credit of 2.2 billion euros granted to the Société Générale in 2008 after the case Kerviel…

The reflection was ongoing for several weeks. According to the daily Les Echos, the tax authorities have launched a procedure against the Society in General in order to recover all or part of the $ 2.2 billion tax credit in which the bank has received, between 2009 and 2010, to remedy the “extraordinary losses” related to the fraudulent acts of the case Kerviel.

>> Affaire Kerviel: Bercy will reconsider the tax position of the Company General

Contacted by 20 Minutes, on Tuesday evening, the services of Bercy have refused to confirm or deny this information, explaining that she was covered by the tax secrecy. “Things are compartmentalized in Bercy, said. The tax authority [the general directorate of the Treasury] may make a decision without the minister being directly informed. “For his part, Jean Veil, the lawyer’s history of the bank, declined to comment, with 20 Minutes, this new twist in a case that has held since 2008.

The judgment of the court of appeal of Versailles revives the machine

To understand the history of the tax credit, it must in reality be traced back to the source of the case Kerviel in 2008. Relying on a judgment of the State Council, the Société Générale had obtained, at the time, to deduct from its taxes a little more than one-third of the “exceptional losses” that it says have suffered because of the fraudulent activities of its former trader. Is the sum of 2,197 billion in taxes.

>> Company General: Any understanding of this history of credit tax

But the case law makes it clear that the companies that are the victims of fraud have the right to benefit of the discount to the extent that they are not, themselves, responsible in part for the fraud. This was the case in the case of Kerviel until 23 September. But, called to retry, on the civilian side, the case, the court of appeal of Versailles (Yvelines) has been estimated, at this date, that the former trader was “partially responsible” for the fraud.

>> Story: We spent the 23rd of September with Jerome Kerviel

implying clearly that the bank had also its share of responsibility in the fraud suffered, the court of appeal has pointed out, in his judgment, “the deficient organization” and “the accumulation of breaches in security and risk monitoring” of the bank. A subject who had not failed to respond.

The bank will use “all means” to enforce its position

These elements are likely to challenge the tax credit that has benefited the bank in 2008, Michel Sapin, the Finance minister, had indicated that he had asked his services to examine this issue. According to Les Echos, they said to come to settle in taking the view that the bank should reimburse this windfall of public money.

But the subject matter is likely to sink still a lot of ink. As in any procedure of this type, the Company’s General now has the opportunity to contest the adjustment in tax and make their arguments. “If this is the case, a debate will engage with them to find out if they have to pay and how much,” says a source close to the folder 20 Minutes. The negotiations promise to be tough. In a statement released on Monday evening, the bank indicates that it has, in this case, complied with the tax laws and that it ” will use [if the tax adjustment is confirmed] all the legal means to enforce this position.”

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