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The French government introduces changes in the tax system

17.08.2012
Homesoverseas.ru editorial office
34
The Government, led by the new President Francois Hollande introduced several changes in the tax system, in particular relating to the capital gains tax for owners of second homes, According to the Internet source Estatenetfrance.com with reference to the French notaries. Changes will include additional social tax at a rate of 15.5% to the existing capital gains tax when selling real estate in the amount of 19%. Thus, the total tax on capital gains will make up 34.5% of the inhabitants of the EU countries and from 33.33% to 48.83% for the citizens of other countries. The changes do not affect only those who own the property for at least 30 years. According to an Internet resource France24.com , changes were adopted by the Constitutional Council of France August 9, 2012, despite the warnings of many experts real estate market. It is expected that the law will soon be signed by the president of France. In addition, the non-taxable threshold for wealth tax has been reduced from 1.3 million euros to 700 000 euros. Buyers is decided to postpone the purchase of real estate in France and in the volume of sales transactions, in particular luxury property in July 2012 decreased. HomesOverseas.ru
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