Buying Property in France by Clive Kristen

Author:Clive Kristen
Language: eng
Format: epub
Tags: France, proprty, purchase, income tax, wills, inheritance, tax, French life'
ISBN: 9781783332915
Publisher: Andrews UK Limited 2013
Published: 2013-10-17T00:00:00+00:00

Taxation

The basic taxes for individuals are:

Income tax. This is divided in French law into earned income (impot sur le revenue) and unearned income (impot des revenues des capitaux mobliers).

Land tax (taxe fonciere).

Community tax (taxe d’habitation).

Capital gains tax (regime des plus-values des particuliers).

Death duties (droits de succession)

Gift tax (droits de donation)

Registration

The ownership of all properties must be registered with the French tax authorities. Owners who are not resident have to register by 30 th April following completion of the property purchase. Residents are expected to register immediately with the local Centre des Impots. Non resident owners should register with the Tax Centre for Non Residents at:

Centre des impôts des non-résidents,

TSA 10010 - 10 rue du Centre,

93465 Noisy le Grand Cedex

01 57 33 83 00

Email: [email protected]

Domicile

For international tax purposes the concept of domicile is important. Those who have their ‘fiscal domicile’ in one country theoretically pay tax in that country on their income. There is however some give and take on this. Some pensions, for instance, originating in the UK, are automatically taxed there.

Those considered to be domiciled outside France pay tax only on that portion of their income earned in France. You will be said to have a French fiscal domicile if:

You have a home in France and spend more than 183 days in the country in any financial year.

Your wife and family live in France for more than 183 days in any financial year, even if you spend most of your time out of the country.

You work in France on either a salaried or self employed basis, unless you can prove that work is ancillary to your main employment.

Most of your income is generated in France. This could for instance catch retired people who run a successful gite business.

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