BNP Fights €250 Million French Tax Bill on Dividend Trades (1)

BNP Paribas SA is fighting a French bill of around €250 million ($290 million) over transactions that allegedly helped foreign investors dodge billions of euros in taxes on dividends, according to people familiar with the matter.

The nation’s biggest bank filed the lawsuit against the order to pay back taxes, penalties and interest on trades from 2014 and 2015, said one of the people who asked not to be identified because the proceedings are confidential. A hearing examining the so-called Cum-Cum strategy is likely early next year at a court near Paris, said another person.

BNP declined to comment. The ...