PARIS, April 10 - RAPSI. French President Francois Hollande announced on Wednesday a series of steps to combat tax evasion. Presenting a draft law triggered by recent tax scandals, Hollande said that French banks should declare all of their subsidiaries and added that countries that refuse to cooperate with France will be added to its list of "tax havens."

Combatting tax fraud is essential for ensuring equality among people in regard to taxes, he said in a statement broadcast by French TV channels. So-called "tax havens" should be eradicated in Europe and across the world, he said.

According to Hollande, French banks will be required to annually publish a full list of their subsidiaries worldwide, country by country, he said. They will also have to explain their business, he said. This way, it will be possible for banks to hide transactions made in a tax haven. This information will be openly available.

In addition, France will annually compile a list of tax havens and will not hesitate to add to that list any country that refuses to give information in French taxpayers, Hollande said.

He hopes that these steps will be accepted as EU-wide policies.

If information is automatically exchanged on the fiscal status of French citizens and foreigners residing in France, he said, bank confidentiality will end, and capital will no longer be hidden abroad.

He said the draft law will be submitted to the Cabinet of Ministers later this month and then forwarded to parliament.