The French Ministry for the Economy and Finance has announced that the penalties under France's tax regularization program will be increased for new disclosure applications. The program, introduced in 2013, originally provides for a reduced penalty of 15% for declared assets in relation to inheritances, gifts, or foreign earned income (passive fraud), and 30% for deliberately hidden assets (active fraud). For applications filed from 15 September, these penalties are increased to 25% and 35% r…