Guide to French Wealth Tax 2020
Friday 07 February 2020
We are pleased to announce the release of our guide to the wealth tax in France for 2020, applicable for the 2019 tax declaration.
In 2018, President Macron significantly reduced the scope of the wealth tax, to cover only real estate assets and investments.
Previously all non-business assets were included in the calculation.
Accordingly, l’impôt sur la fortune (ISF) has become l’impôt sur la fortune immobilière (IFI).
Nevertheless, it remain a controversial tax, as it fails to deal with many of the criticisms levelled at its predecessor, notably that it still captures many households whose annual income is modest.
Sandy Dalmas, of French tax accountants Roche & Cie, comments that: “The change is welcome but it has introduced new complexities concerning the calculation of property-based financial instruments and the deductibility of debts.”
You can read about the changes and how to make a wealth tax declaration using the clickable links below.
This article was featured in our Newsletter dated 07/02/2020