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Cotisations on bank interest


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Are the french banks deducting cotisations on interest at source now?

A friend of mine showed me one of his french bank statements which listed deductions/charges and included on it was an 11% deduction from the interest for cotisations.

He has not lived here long enough to make a tax declaration yet so I suggested he queried it. He did so and was told that the government have instructed the banks to do this.

It makes me wonder, if, when filling in the tax forms and declaring any interest there is a likelyhood of paying twice, as I assume we will still be obliged to include bank interest on the forms.


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