Friday, 19 July 2013

From 1 September 2013 – Reductions in French CGT on real property

The French Government has announced a reduction in the holding period of real property – down from 30 years to 22 years – to be able to achieve full exemption from Capital Gains Tax.

In addition, for the period 1 September 2013 until 31 August 2014, a further 25% special temporary reduction will apply and there is the promise of the lessening of the liabilities to CSG/CRDS etc on capital gains realised on real property.

No real detail has yet emerged and the formal legislation will be presented as part of the Finance Bill 2014 later in the year.