Proposed changes to the French tax regime provide some good news for French property owners.
While the proposed abolishment of wealth tax has been cancelled, the threshold for paying wealth tax will increase to €1.3 million compared with the previous threshold of €800,000. Those falling below the new threshold of € 1.3 Million will no longer have to file a wealth tax return effective as of January 2011. Under the new regime, the previous six rate bands will be simplified to just two. Those with assets between €1.3 million and €3 million will be subject to a tax of 0.25% and for those with assets over €3 million the tax will be 0.5%. Cécile Acolas of Moore Stephens says: "...
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