Income tax isn’t the only thing to consider when it comes to French tax law. Some residents may have to pay real estate wealth tax.
Individuals who are tax residents of France, regardless of nationality, are subject to real estate wealth tax if the value of their worldwide real estate assets is over €1,300,000.
If your employees are in this situation, they must file an annual real estate wealth tax return with the French Tax Authority. If they are unsure whether they need to pay real estate wealth tax, or need help filing their real estate wealth tax return, contact Elitax today for a free consultation. free consultation.
Not all residents of France are subject to real estate wealth tax. Take a look at our three categories below to see what kinds of tax return your expatriates employees need to file. If they don’t fit into any of these categories, they are exempt from real estate wealth tax, but may be subject to other forms of tax. See our page on general tax information to see what is required of them.
● They earn no income but their real estate wealth exceeds €1,300,000, but is less than €2,570,000 euros: You need to file a French real estate wealth tax return.
● They earn income and their real estate wealth exceeds €1,300,000 but is less than €2,570,000 euros:
They need to file an integrated income and real estate wealth tax return
● They earn income and their wealth exceeds €2,570,000: They need to file an income tax return and a separate real estate wealth tax return
If you would like us to clarify to your employees whether their real estate assets require them to complete a real estate wealth tax return, get in touch.
Elitax has years of experience arranging real estate wealth tax returns for tax residents in France. We’re also dedicated to making life simple for our clients. That’s why we’ve created a five-step plan that depicts the process of filing a real estate wealth tax return with us:
Any issues that arise during the real estate wealth tax return process will be dealt with by our bilingual tax specialists. Clear and regular communication is at the heart of what we do at Elitax.
We guarantee all real estate wealth tax returns prepared by us, as long as these are submitted without any changes. We do not guarantee real estate wealth tax returns in cases where information has not been supplied, or has been incorrectly given, or withheld.
We’ve helped hundreds of clients resolve their tax issues.
Very reactive and efficient service – helped me navigate the complexities of the tax system in France after my work move
As an American/French couple living in France, we really had no idea what to do when it came to dealing with our newly conjoined taxes (both American and French), so we are eternally grateful to Elitax for their help. They not only did a magnificent, efficient job with our taxes and with answering our many, many questions, but also they reached out to their contacts on my behalf to help with setting up my own French business. We really could not recommend them highly enough to anyone searching for a truly trustworthy and highly capable team that will take good care of their taxes.
We have used Elitax.com for the past three years. At first we were unsure if a firm based in Paris, so far from us would be the correct thing to do. Our French language skills are limited but we had been assured (by other ex-pats) that our tax declarations would be simple and could easily be completed without engaging a professional firm. That is so far from the truth, it is almost a lie! We soon discovered just how the rules are littered with potholes ready to swallow the naive declarant whole. A very simple mistake, in entering our income in the wrong format, led to a very frightening tax investigation. At the conclusion of which we were just advised that our tax forms should be done by someone who knew what they were doing. Elitax were our saviours. Their advice and forms are simple to follow. The firm is efficient and are always available if assistance is needed. They ensure that you are fully aware of your responsibilities in relation to your declarations and they work well to ensure that submissions are made seamlessly. Their online client space is easy to follow. We cannot recommend Elitax enough.
Eliane and her team have been preparing my tax returns and guiding me through the complexities of dual taxation (USA-France) for the past four years and I couldn’t recommend them highly enough! I first contacted Elitax two weeks before tax deadline, when I had been let down by another company. Eliane took the time to understand my situation and left me confident that she would take care of everything. And she did! Aside from Eliane’s comprehensive technical knowledge and impeccable English, she has the rare gift of being able to convey her knowledge in a way that an average human being can understand. In addition, I always appreciate Eliane’s calmness and patience and the personal interaction that she is always ready to provide.