Another Anglo-Saxon phrase incorporated into French

[pachapapa]

[:D] L' Exit Tax!

Pour compenser le manque à gagner de 900 millions d'euros lié à la réforme de la fiscalité, l’Etat prévoit de taxer les résidences des étrangers en France, les donations et successions élevées, et de créer une Exit Tax ciblant les Français qui s'expatrient pour des raisons fiscales.

de la bouche de Baroin!!

Allez vous créer une «exit tax» ?

Oui, pour boucler le financement de la réforme, nous allons imposer les exilés fiscaux et les non résidents, notamment, avec une « exit tax » sur le modèle allemand, qui existe presque partout dans le monde. Elle sera assise sur les plus-values constatées lors du transfert de la résidence fiscale hors de France, et exigible lors de la cession des titres. Nous pensons que ce sera une mesure fortement dissuasive.

[pachapapa]

One would presume that it would therefore only apply to a residence secondaire disposed of by a UK foreigner.[;-)]

[cooperlola]

Funny, but I though "exit" was from the Latin. 

Also, on looking up the etymology of "tax", I read that it is from the old French "taxer" (to tax).

 

Sorry - it's obviously pendants' week on the forum.[:D]

[woolybanana]

Bless![6]

[Christine Animal]

Are you a pendant Wooly?

Sorry, couldn't help that one!   [:P]   [6]

 

[NickP]

[quote user="pachapapa"]One would presume that it would therefore only apply to a residence secondaire disposed of by a UK foreigner.[;-)][/quote]

Why would a foreigner in the UK have to pay a French Tax? [:D]

[cooperlola]

[quote user="NickP"]

[quote user="pachapapa"]One would presume that it would therefore only apply to a residence secondaire disposed of by a UK foreigner.[;-)][/quote]

Why would a foreigner in the UK have to pay a French Tax? [:D]

[/quote]I know of one or two people who believe that foreigners in France don't have to pay French tax.[Www]

[BJSLIV]

There are two new taxes being proposed..

The exit tax on resident's taking their wealth out of France.

but also

An annual tax on all foreign owned holiday homes.

There has always been a provision for people resident outside the EU to be taxed on the notional rental value of property in France. It will be interesting to see how this new tax can/will be applied to EU residents who are I suspect the largest owner of French holiday homes.

[woolybanana]

latter is illegal as discriminatory

[BJSLIV]

As I said, but thats today's proposal.

Création d'une taxation forfaitaire des résidences secondaires. Elle concernera les non-résidents.

[woolybanana]

Yes, but I dont see how it can apply to places only owned by foreigners

[BJSLIV]

Well to be precise it's not a question of foreigners but non residents.

[woolybanana]

In which case they mean French subjects who nip abroad with their money and keep houses here.

[BJSLIV]

We will have to wait until 11 May when the details are supposed to be published.

The informed speculation seems to suggest a couple of possibilities.

1 Abolishing the gradual abatement of the tax if you hold the property for more than 5 years.

or

2 Collecting CGT on the notional increase in the property's value each year. That sounds suitably bureaucratically complex! Presumably with a wash up at the end offsetting tax collected against total tax due.....

[NickP]

[quote user="BJSLIV"]We will have to wait until 11 May when the details are supposed to be published. The informed speculation seems to suggest a couple of possibilities. 1 Abolishing the gradual abatement of the tax if you hold the property for more than 5 years. or 2 Collecting CGT on the notional increase in the property's value each year. That sounds suitably bureaucratically complex! Presumably with a wash up at the end offsetting tax collected against total tax due.....[/quote]

Well then, the notional increase in value; if it continues as it has for the last couple of years should mean that everybody will get a rebate. [:D]