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wealth tax

Posted by llangollen - Created: 12 years ago
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3 replies (Showing replies: 1 to 3)

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Posted by swordsman-226099 - 12 years ago

as a resident in France it applies to everything you own around the world ie homes,land, shares,cars,boats etc but not antiques.

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Posted by ChristopherL-188542 - 12 years ago

I don't believe llangollen was referring to "plus-value"- more likely he/she is thinking about ISF.

If you read French, here is an excellent and simple description.

One sentence of note that addresses your question about retroapplicability...

quote:Le fisc peut contrôler la déclaration et éventuellement effectuer un redressement pendant trois ans (dix ans en cas d'absence de déclaration ou d'omission d'un bien).

So in a nutshell: If the property (net of any debt) is worth 760,000€ or more then you have to declare it and pay ISF annually. You can be retroactively taxed for 3 years for under-declaration or 10 years for lack of declaration.

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Posted by Prov123 - 12 years ago