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Q: Capital Gains Tax on property in France ( Answered 4 out of 5 stars,   0 Comments )
Question  
Subject: Capital Gains Tax on property in France
Category: Business and Money
Asked by: dayclub-ga
List Price: $10.00
Posted: 12 Nov 2002 07:32 PST
Expires: 12 Dec 2002 07:32 PST
Question ID: 106040
I need information on French Capital Gains Tax as it relates to
selling a second home in France (what percentage of the gain do you
pay, what allowances/expenses are acceptable, is there stepped relief
for each year you have owned it etc)
Answer  
Subject: Re: Capital Gains Tax on property in France
Answered By: belindalevez-ga on 12 Nov 2002 10:51 PST
Rated:4 out of 5 stars
 
<The rate of capital gains tax in France is 33.33%. For property
dealers it is 50 %.
If you have owned the property for 22 years or more there is no
capital gains tax.
If you have owned the property for 2 years or more you can deduct the
following costs to determine whether or not there has been a taxable
gain:
1. The purchase price plus inflation coefficient.
2. Agents fees and legal fees.
3. Renovation costs that can be proved with a VAT receipt.

After two years additional allowances are also allowed, typically 5 %
per year. If you have owned the property for less than two years and
need to sell for pressing family reason like a death then you will
still be able to claim the above allowances.

France has double tax treaties with a number of countries. Under the
double tax treaty you will be able to credit it capital gains tax paid
in France against capital gains payable in your tax domiciled country.
>


<Additional links:>

<Taxation in France.>
<http://www.french-property.com/ref/tax.htm>

<French property questions and answers>
<http://www.pannone.com/services/shwServiceFAQs.asp?SID=15>

<Premier capital>
<http://www.premier-capital.com/eng/faq_france.html>

<French tax for non-residents.>
<http://www.legal21.org/english/eng_tax_nonres_fr.htm>




<Search strategy:>

< "capital gains tax"  france>
<://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=%22capital+gains+tax%22+&as_q=france&btnG=Search%A0within%A0results>


<"capital gains tax"  france calculated>
<://www.google.com/search?q=%22capital+gains+tax%22++france+calculated&hl=en&lr=&ie=UTF-8&start=20&sa=N>


<Hope this helps.>
dayclub-ga rated this answer:4 out of 5 stars
everything I needed to know and some good links. Thanks.

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