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.
After many disappointing experiences with so called “bilingual accountant,” I was finally introduced to Eliane. She understood my situation as an owner of the second house in France and my tax position as a UK citizen straight away and helped me towards the right direction. Apart from the efficiency and accuracy of her work, I also appreciate her friendly and caring approach very much. I used to find the French tax declaration on my rental business as a burdensome duty but now with Eliane, it has become much less of a burden! I highly recommend her firm to anyone who, like me, not very competent in French to deal with the complicated tax issues in France.
Elitax was referred to me a couple of years ago, where I first met Eliane. Being a new Impatriate to France, Eliane was excellent in easing me into the ways of the French tax system, appropriate to my situation. Her clear explanations, obvious great knowledge of the subject and generosity with her time and effort has made life so much easier than it could have been. I have to say that whenever I have needed to call upon Eliane she has responded promptly and I can definitely say she ‘goes the extra mile’ to help. If anyone needs tax advice as someone coming into France then I advise them to contact Eliane. I am very happy to endorse Elitax.
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.
Neither my employer nor I had any experience with detached employee contracts. In my first few months moving from Paris to New York, we discovered many gaps in social protection and unexpected higher taxation obligations. The counsel we received from Elitax helped frame our choices, and enabled us to put everything in order. My company was smarter for the next set of expat assignments. Thanks, Elitax!