Following previous news that the capital gains tax threshold would be reduced, the new set of rules on capital gains tax has now been published with further advantages including a 25% rebate on CGT for a year.
As from the start of September the new CGT rules com into effect, which include:
- Reduction of the exemption from capital gains tax threshold down to 22 years from the previous 30 years
- A supplementary discount of 25% for properties sold between 1st September 2013 and 31st August 2014
- Supplementary capital gains tax will continue to apply on gains over €50,000.
- No change in the period over which complete exemption from social charges is granted
We have listed basic fnfomation on taxes that apply to buying and selling property in France here, whilst for a more comprehensive guide on the latest changes to CGT please visit the official French website Service-Public.fr
Thanks to Mountain Base for providing the update on this, Mountain Base specialise in property sales in the Chamonix area.