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New Tax on Foreign owned holiday homes.


BJSLIV

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In case anyone hasn't noticed the Government has today announced it's intention to introduce a new tax on holiday homes owned by persons not resident in France.

It will be interesting to find out how much this tax will amount to when the details are published.

It looks like it could be a fixed amount per property.

It's all part of the rebalancing of the French tax base away from the current wealth tax.

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From what little I've seen so far, it seems to be just the capital gains tax. I suspect that under certain double taxation agreements (but not the one with the UK) CGT is not payable in France on gains made in France for residents of certain countries (Belgium? Switzerland?). There may however be more to it. We will apparently see on 11th May, when the proposals are due to be presented.

Edited: sorry, I hadn't seen the other thread running on this.

Regards

Pickles

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