Video length: 3 min.
In 2013, Dominique Strauss-Kahn registered his company Parnasse International in a free zone which is very attractive for foreign companies: corporate tax is 0% for the first five years of installation… Extract from “DSK, survey on a man of influence “, a survey by Linda Bendali broadcast Thursday, October 7, 2021 at 9 pm on France 2.
In 2013, while at the time a French resident, Dominique Strauss-Kahn relocated his business and created the company Parnasse International in Morocco to provide conferences and advice all over the world. The kingdom has just created a very attractive jurisdiction for foreign companies: Casablanca Finance City (CFC). Companies registered there pay no tax on their profits for five years. How much did he save in tax by transferring his activities from France to Morocco?
The magazine “Cash Investigation” (replay) recovered the balance sheets of Parnasse International, the Moroccan company of the former French Minister of Economy, Finance and Industry (1997-1999), ie five years of accounts from 2013 to 2018. The economist specializing in taxation Ano Kuhanathan calculated the tax savings made by DSK during these five years of tax exemption: “Over five full fiscal years, we already arrive at around 6 million euros in corporation tax that his company would have had to pay if it had been domiciled in France.” Exactly, 6,163,000 euros …
2.4 million euros to refine the legal framework of the Casablanca Finance City
The former Managing Director of the International Monetary Fund (2007-2011), who became a businessman, was thus able to enjoy the delights of this Moroccan fiscal oasis. And that’s not all, since he also helped to build it. According to a document never revealed, the Moroccan state called on Dominique Strauss-Kahn between 2012 and 2013 to refine the legal framework of the Casablanca Finance City. Parnassus is paid 2.4 million euros for this work. As for the CFC, it has earned the Cherifian kingdom to be placed on the gray list of tax havens for four years.
Ironically, the one who made the decision to send Morocco to purgatory was close to DSK: Pierre Moscovici, then European Commissioner for Economic Affairs. Asked by Elise Lucet about these sums that DSK would have had to pay in France if he had not domiciled his company in Morocco, the current first president of the Court of Auditors answers: “I am neither the lawyer nor the prosecutor of Dominique Strauss-Kahn, who lives his life. I do not know her any more.” Is he still surprised? “He’s not been a politician for a very long time. He has another life. Let’s leave him to this other life.” And if he was there, what would he have to say to her? “If I had something to say to him, I would say it to his face and to him personally.”
An excerpt from “DSK, investigation of a man of influence“, a survey by Linda Bendali broadcast on Thursday 7 October 2021 at 9 p.m. on France 2.
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