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.
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!
As an expatriate, surrounding yourself with a set of professionals is of vital importance. Eliane guided me from my arrival to my departure through the complicated French fiscal systems, I felt in the best hands, never had any issues with the tax authorities. Eliane’s patience and service are second to none. Even today, after 2 years of my departure from France, I keep Eliane as a contact and ask for her advise which she offers at a very reliable speed. I highly recommend using Elitax as your tax parter.
Elitax was recommended to me by a friend just before I moved to Paris several years ago. From the onset Eliane was extremely helpful and articulate — her command of English is as superb as her knowledge of international tax laws and bilateral agreements between EU nations. She quite quickly dissolved any apprehension I might have had and explained things in a quite lucid manner. Elitax has handled my affairs ever since and I can not recommend their services more highly.
I am a U.S. citizen living and working in Paris. Navigating the French tax system as an expatriate can be overwhelming. Elitax took all of the stress out of preparing and filing French tax returns. They understand the needs of expatriates and made the process very easy. They were thorough in preparing my tax forms and very prompt in responding to my questions. Their reliability and expertise make them easy to recommend. Thank you Elitax!