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Tax on French Savings accounts


Mutts

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Time to declare interest on savings with INF fr. I've had numerous forms from them showing how much interest they've paid me and one states "credit d'impot inclus", but nowhere is there any indication of how much tax has been deducted. Anyone know the rates, or know if it's tax free?

 

 

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If it's ING Livret Epargne Orange and it's French tax being declared (I presume you are French resident if you have a French ING account) you should have had a duplicate form from ING around February showing interest earned in 2005 Jan 1 - Dec 31st.  This shows the amount to be declared on your tax form and one copy should have accompanied your 2005 tax declaration.  They do send a lot of paperwork so maybe you have overlooked it?

Interest is taxable, as it says on the ING website:

Les intérêts de votre livret Épargne Orange sont soumis soit :

  • Au PLF prélèvement libératoire forfaitaire (27%) qui inclut impôts (16%) et contributions sociales (11%)
  • A l'impôt sur le revenu majoré de 11% de prélèvements sociaux

Si vous n'êtes pas imposable, vos intérêts sont diminués uniquement des contributions sociales.

You will have chosen either PLF or non-PLF when you opened the account.  The default is PLF.  Your decision is changeable for any year up to Dec31 of that year.

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Yes, it's ING fr - thanks for pointing that out; yes to French tax, but no to French resident.

I got the forms in duplicate and the amount of interest received is shown under "Autre revenus (credit d'impot inclus)" No other figures (other than zero) are shown on the form. On opening the account, non-PLF was chosen. Can I assume I've been paid gross?

 

 

 

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[quote user="Mutts"]

Yes, it's ING fr - thanks for pointing that out; yes to French tax, but no to French resident.

I got the forms in duplicate and the amount of interest received is shown under "Autre revenus (credit d'impot inclus)" No other figures (other than zero) are shown on the form. On opening the account, non-PLF was chosen. Can I assume I've been paid gross?

 

 

 

[/quote]

Oui!

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