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Where the new French taxes will bite


NormanH

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This article published the 16th July in le Figaro outlines the principal areas where revenue income will rise.

http://www.lefigaro.fr/conjoncture/2012/07/15/20002-20120715ARTFIG00147-les-principales-mesures-de-la-loi-de-finances.php

The main ones of Interest to posters here are:

Overtime will now be subject to social charges (an an amendment which will probably be adopted will tax them)

Those who already pay wealth tax will pay an additional one off payment

The amount allowed before paying inheritance tax will be lowered to 100,000, and the frequency at which gifts can be given to children will be extended to 15 years http://www.leparticulier.fr/jcms/p1_1432257/les-droits-de-succession-et-de-donation-vont-serieusement-augmenter

VAT
will stay at 19,6% but reduced to 5,5 on books and live 'spectacles'

Rents and capital gains on properties in France owned by non-residents will be subject to the same 15,5 % social charges as paid currently by residents

The rise of this from 13,5 to 15,5 recently voted by the previous Government will be maintained

This measure has generated a lot of hot air but is principally aimed at French people living abroad as can be seen by the fact that it is mentioned in the same breath as the fact that  French children at a French school abroad will no longer get the education free.

There is however a collateral effect for second home owners of other nationalities as we have discussed on another thread

There are other measures such as taxation on stock options which I consider less likely to have an effect on anybody here.

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My son is going back into restauration and would that they were paying his overtime to pay social charges on. He has yet to have an employer in France who pays all his hours. I daresay he would be delighted to pay up on a proper salary.

 

Re Live spectacles, will they really come down, or will the organisers just pocket the money?

 

 

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