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Taxation in France
While every effort has been made to offer information which is current,
correct, and clearly expressed, the information in this summary is intended
to be no more than a general overview. Please consult French Tax Online for
more specific information and a personalised taxation advice service.
Land or Property Tax (taxe fonciére) is paid by the owner of the property
whether you live in the property or not. New properties may be exempt from
land tax for the first two years provided the local council has agreed to
such an exemption.
Residence Tax (taxe d'habitation) is paid by the person living in the
property as of the 1st of January each year. If you rent your property to
someone else, then they are liable for paying this tax.
Capital Gains Tax. No capital gains tax is due if you are selling your principal residence to
buy another home in France. For a non-resident, but a resident of a EU
member state, the capital gains will be 16.5 percent for the first five
years reducing to zero at the end of year fifteen.
Wealth Tax affects resident with world-wide assets over 732,000 Euro and is
calculated progressively in bands above this figure starting at 0.55% per
annum to a top rate of 1.8% for those with assets in excess of 15,255,000
Euro. Non-residents are subject to wealth tax if their net assets in France
are greater than 732,000 Euro.
Inheritance Tax in France differs substantially from that in the UK. You
should seek advice from your notaire and a tax specialist preferably before
signing the compromis de vents.
Income Tax. If you are deemed to be resident in France (if your main residence is in
France, if you spend more than 183 days a year in France, or if your
principal economic activity is in France) then you will be subject to French
income tax on your worldwide income.
If you are non-resident but have French assets you will normally be taxed at
a flat rate of 25% on any income derived in France.
THIS IS ONLY A GENERAL SUMMARY. Please contact French Tax Online for further
information on French Tax.
French Tax Online can offer you the following services:
- Identify your French tax situation and related obligations
- Determine what information you need to declare
- Complete any and all tax forms with the relevant information
- Obtain an estimation of the income tax you may pay
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