Wealth Tax Returns for Residents in France
Wealth tax in France is a special form of taxation that the government has imposed on high-net-worth individuals in order to reduce wealth inequality. This article will discuss how this type of taxation works, what you need to know about it, and why it’s important for employees in France.
You Have a Legal Information Obligation To Your Employees
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. However, it may be tough for foreign workers to grasp and follow French tax regulations, especially if they have difficulties comprehending taxes in France or have a language barrier.
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. Many employees simply aren’t aware of this type of taxation and its implications, which can end up costing them a lot of money.
If you employ individuals who find themselves in this scenario, they must submit an annual real estate wealth tax return to the French Tax Authority. Those who are unsure about whether or not this tax applies to them should seek professional help.
At Elitax, we are a team of bilingual tax experts who can help you with all of your tax needs, including filing the wealth tax returns for all employees. We’ll make sure that everything is submitted correctly, and we’ll walk you through any deductions or benefits your staff may be eligible for.
Which Employees Need to File a French Real Estate Wealth Tax Return?
Not all French people are subject to the real estate wealth tax. Take a look at our three categories below to see which tax return your expatriate workers must file. Your employees are exempt from real estate wealth tax if they do not fit into any of these categories, although they may be subject to different taxes. 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.
Our Five-Step Process for Real Estate Wealth Tax Returns
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:
- We contact your employees to establish their needs and timing
- We send our real estate wealth tax return questionnaire to them
- They fill in the questionnaire and send it back to us
- We work on their file and get their forms prepared
- We deliver their French real estate wealth tax return forms or file online on their behalf
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.
Why Choose Elitax for Your Employees’ Wealth Tax Return?
Our experience as bilingual tax advisors in France indicates that incoming expatriates are often uninformed about wealth tax law in France, or don’t even realise it exists or applies to them.
It is your responsibility to ensure that all of your employees file wealth tax returns in France, and to make sure they do not pay more than the necessary amount. We can help you with this process so you don’t have to worry about it.
We have been assisting clients with their French income tax preparation and filing for more than fifteen years to comply with French income tax return requirements while optimizing the amount of taxes to be paid.
Our fees are competitively priced reflecting the quality of the service provided. Our expertise helps your employees to avoid any potential fines and penalties and to keep more of their money.
We also offer a free consultation for all new clients. So if you’re unsure whether your employees need to submit a real estate wealth tax return in France, please get in touch with us – we’ll be happy to help!
Our Wealth Tax Guarantee
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.
Contact Us Today for a Free Consultation
To find out more about our wealth tax return service for employees in France, please contact us today. We offer a free consultation to all new clients so that we can assess their needs and provide them with the best possible advice and services.
Call us now on +33 (0)970 44 45 46 to book an appointment with one of our bilingual tax experts.
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Thank you Elitax for providing such a no fuss, friendly and efficient service. We have used Elitax for 3 years now and would not hesitate to recommend them.
ELITAX has been fundamental as our tax consultants our expatriated personnel to our day to day operations.