France makes changes to CGT laws

Individuals with property in France may be interested to learn about the recent changes to the country’s capital gains tax (CGT) laws.

The rate of CGT on house sales in France is set to increase by one per cent next year.

It will mean that CGT on property sales will increase from 16 per cent to 17 per cent, in addition, social charges of 12.1 per cent are payable. The total rate of tax will, therefore, rise from 28.1 per cent to 29.1 per cent.

The news is likely to be of interest to those with Provence-Alpes-Cote d'Azur property for sale or individuals hoping to sell their Rhone-Alpes property

There remain exemptions from liability to the tax, notably the sale of your main home, which continues to be tax free.

In addition, CGT liability reduces by ten per cent a year after six years of ownership, with the sale completely free of tax after 15 years.

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