New Additional Tax on Property Gains

New Additional Tax on Property Gains

Dec 19, 2012

Under the last rectifying budget article 24e, an additional Capital gains tax has been introduced for those gains above €50,000, so this is to be applied on top of the rates already in place and is assessed as follows:

Taxable Amount Applicable Rate
Between €50 000   and €100 000 2 %
Between €100 000 and €150 000 3 %
Between €150 000 and €200 000 4 %
Between €200 000 and €250 000 5 %
Over       €250 000 6 %

This new tax will apply to capital gains from disposals made on or after 1 January 2013, except those for which a sale agreement has acquired certain date before 7th December 2012. The gains made in 2013 could benefit from the exceptional reduction of 20% under Article 10 of the draft Finance Act 2013 for the calculation of income tax.

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 Disclaimer: The information in the above article concerning taxation is based upon our understanding of the taxation laws and practises in France at the time of writing. These taxation rules are subject to change and as such, Kentingtons cannot be held responsible for any inaccuracies that may occur. The information in this article does not constitute personal advice. Individuals should seek personalised advice in relation to their own situation.

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