Moscovici told Swiss public broadcaster RTS there would be "no anonymity" for those with undeclared accounts, and hailed a legal process whereby evaders could "regularize" their tax affairs by taking on certain penalties while escaping the greatest censure from the law.
The French finance ministry was receiving 95 requests a month from those wishing to come clean about their accounts, a figure that had previously been around 35, Moscovici said.
He added there would be no amnesty for those with hidden bank accounts in Switzerland, the wealthy Alpine nation long accused of protecting the privacy of its clients over obligations to tax authorities in other nations.
The finance minister's remarks came in the wake of a deal signed on Thursday in Paris between the countries that means inheritances will be taxed where the recipient, rather than the deceased, is living.
Describing a "step on the way to an automatic exchange of information", Moscovici said he hoped the accord would signal a grip that is ever tightening around French tax dodgers.
The minister stressed he had no desire to harass the Swiss, over bank secrecy, but said he wished the country might become "more European" and less isolated in its outlook.
Moscovici faced criticism over the handling of the affair of disgraced former budget minister Jerome Cahuzac, who resigned from Francois Hollande's government in March over an undeclared foreign bank account said to contain around €600,000 ($770,000).
TAX EVASION
French crackdown on tax cheats ‘to accelerate’
A crackdown on French tax evaders with hidden Swiss bank accounts is working and will accelerate, France's Finance Minister Pierre Moscovici said in an interview broadcast on Swiss television on Sunday.
TAX EVASION
Switzerland’s banks remain among the world’s most secretive
Despite the progress made over the years, the Swiss financial sector continues to be one of the least transparent in the world. But there is good news too.
Switzerland is in the third place in the 2020 Financial Secrecy Index released by the non-governmental organisation (NGO) Tax Justice Network (TJN), which rates 133 nations based on their financial transparency.
Two other European countries, Luxembourg and the Netherlands, are also ranked among the top 10 least transparent nations on the TJN’s list.
Despite being in the third place, Switzerland ranks better this year than it did in the previous edition of the Index, which is released every two years — it slipped from the first to third place. The Cayman Islands and the United States took the first and second spots, respectively.
Switzerland reduced its risk of being an offshore haven for tax cheats by 12 percent, “finally improving enough to move off the top of the index”, TJN said.
READ MORE: Switzerland's strangest taxes – and what happens if you don't pay them
This improvement is mainly due to Switzerland extending its international network for the automatic exchange of customer information to more than 100 countries.
Also, in a referendum held last year, Swiss voters accepted the Federal Act on Tax Reform and AVS Financing (TRAF). This legislation introduced major changes in the Swiss tax system by ending some preferential tax schemes and replacing them with new regulations which are in line with international standards.
This tax reform prompted the European Union to change Switzerland's status from ‘tax haven' to one which is EU-compliant, removing strict controls on transactions within the EU.
So why, despite all the reforms, does Switzerland still rank among the world’s least transparent nations?
According to a Swiss NGO Alliance Sud, wealthy people from poor countries can still hide their money here from the tax authorities of their home nations.
Alliance Sud noted that despite the progress made in the past years by Swiss financial institutions, “the fight against tax evasion remains insufficient”.
Switzerland is the world’s biggest centre for managing offshore wealth, with a quarter of global assets invested here.
For years, it has been placed on various lists of tax havens where wealthy foreigners could park their money. Faced with widespread criticism for this practice, Switzerland passed an anti-money laundering law in 1997 and introduced strict regulations against tax evasion.
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