A Move to France Doesn't Have to Be Taxing

 


Visitors: 136

Savvy investors who have realised the potential of buying property in France would do well to get up to speed on the taxation laws of the country.

Already, the UK and France have a double agreement which means tax is paid in one country or the other - but not in both.

Non-residents who own French property may be subject to income tax on anything earned within the country, such as renting out a home.

In terms of taxation, the definition of a resident is anyone who has stayed in the country for more than 183 days within a calendar year, although these days are not necessarily consecutive.

French residents will be charged if they earn the majority of their money within the country, if most of their work takes place there or if it is where their substantial assets are.

The tax burden can be reduced under a system which allows a household's combined taxable income to be divided by the number of people living there, including a spouse or dependent children.

Two local property taxes, known as taxe fonciere and taxe d'habitation, are collected centrally then redistributed to pay for services including refuse collection, street cleaning, schools and other community facilities.

French Holiday Lets

A word of warning for foreign property owners - French Tax on letting income! If you rent your property, even for a few months, you must declare your income in France every year! If you do not declare your income, the tax administration in France will tax you on the level of 25% of the estimated renting incomes, without any deduction! You will also pay penalties and interests for the delay.

Howard Farmer
Articles about Living in France
1st for French Property
France Property

We have French property from 15,000 euros - stone houses, land and farms. Residential, vacation and investments property for sale across all of France. Investments: leaseback, buy to let and reversion property.

(343)

Article Source:


 
Rate this Article: 
 
Tax Issues Can Be Less Taxing With Payday Loans
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Make Your Trip to France Convenient with France SIM Cards

by: Ravi Keshri (June 28, 2013) 
(Communications/Mobile Cell Phone)

3 Ways the France Riots Still Affect Foreigners in France

by: Liesa Blond (January 06, 2006) 
(Travel and Leisure)

Investing in France 100% Finance For Properties in France!

by: Michael Reilly (July 01, 2008) 
(Investing)

Stade de France Stadium In St Denis France

by: Martyn Davis (December 14, 2007) 
(Travel and Leisure)

A Taxing Investment

by: Jonas Elmerraji (June 13, 2005) 
(Finance/Taxes)

Stolen Vehicles Are Taxing

by: Hadassah H (July 19, 2008) 
(Insurance/Car Auto)

Taxing Your eBay Profits

by: Tim Knox (February 04, 2005) 
(Internet and Businesses Online/Auctions)

Gites in France (Gites de France) - A Refreshing Alternative To The Traditional .

by: Robert Elding (July 09, 2007) 
(Travel and Leisure)

Taxing eBay Part Deux

by: Tim Knox (February 07, 2005) 
(Internet and Businesses Online/Auctions)

Tax Issues Can Be Less Taxing With Payday Loans

by: Steven Francis (May 06, 2010) 
(Finance/PayDay Loans)