CGT Provisions in DTA has been amended by Luxembourg & France
Capital gains tax provisions on real estate have been amended by Luxembourg & France and this is for a fourth time has revised their double tax agreement. The Protocol was signed on September 5, 2014, by Michel Sapin, France's Minister of
See MoreFrance – Issued guidelines on limiting the interest deduction on related –party loans
The French tax authorities issued final guidelines on 5 August 2014 regarding the newly enacted rules on limiting the interest deduction on related -party loans. According to the final guidelines disallowed interest will not be regarded as a deemed
See MoreFrance-Amended Finance Bill for 2014
The national assembly of France adopted the Amended Finance Law and the Amended Finance Law on Social Security for 2014 on 23 July 2014.The Constitutional Court will now review the law and after signing by the president the law will enter into
See MoreFrance- Investment Protection Agreement with Colombia
The French-Colombian investment protection agreement was signed on 10 July 2014. The agreement will improve bilateral exchange. The agreement is expecting to give protection, clarity and a transparent legal framework for managing any capital
See MoreFrance-Ratification of FATCA pact with the United States
The French Minister of Foreign Affairs has presented a draft bill to ratify the intergovernmental agreement (IGA) between France and the United Sates to apply the Foreign Account Tax Compliance Act (FATCA). The agreement provides a framework
See MoreFrance- Deadline for filing additional Transfer Pricing Statement
The French Government adopted a new additional transfer pricing documentation requirement codified under Article 223 quinquies B of the French General Tax Code. According to the new rule certain taxpayers will be able to file a “reduced”
See MoreGuidelines on the France-Portugal Income Tax Treaty
The Tax Administration of France issued on 25 June 2014 guidelines for those workers who work on ships and aircraft in international traffic under the France-Portugal Income Tax Treaty of 1971. Under provision of paragraph 3 of Article 16 of the
See MoreFrance-Signed Protocol to DTA with Switzerland
France and Switzerland has signed a protocol on 25 June 2014 to the agreement of 1966 for the avoidance of double taxation. The protocol would amend the existing agreement by updated provisions on the administrative assistance in tax matters and
See MoreFrance Reveals Revised HGV Tax
The French Ministry of Ecology has announced that the plans for a heavy goods vehicle (HGV) "eco" tax will be abandoned. Instead of this a truck transit toll will be imposed from 1 January 2015. The charge will be applied to all HGVs over 3.5
See MoreFrance: Withdraws IHT Agreement with Switzerland
The government of France has announced to withdraw the 1953 inheritance tax (IHT) agreement with Switzerland effective from 31 December 2014. Accordingly from 1 January 2015 in the absence of a treaty domestic inheritance tax rules will be
See MoreFrance: Planning of Tax Cuts By 2017
The French Court of Auditors is estimating that the companies’ liability to mandatory levies will be cut by EUR14bn between 2015 and 2017. The Responsibility, Solidarity Pact, the tax credit for competitiveness and employment program will
See MoreFrance: Adopted Amending Finance Bill for 2014
The Council of Ministers of France adopted the Amending Finance Bill for 2014 on 11 June 2014. According to the adopted bill the temporary surtax on the corporate income tax for large companies will be eliminated on 30 December 2016. The thresholds
See MoreFrance: Draft guidelines on deduction of interest paid between related companies
The French tax authorities have issued draft guidelines regarding the interest deduction limitation. The draft guidelines rejects the deductibility of the interest paid to the lending company in the case when tax on the interest paid is lower than
See MoreFrench Local Tax Reforms Have Cut Tax Burden
A report issued by the Board of Compulsory Levies (CPO) in France suggests that small and medium enterprises have benefited by the introduction of the local economic contribution in place of the local business tax. This contribution is the most
See MoreFrance- Lawmakers Seek Simpler Tax Regularization Scheme
French members of parliament have indicated that offering taxpayers a chance for tax regularization through a lump sum 10 percent tax on assets repatriated would raise revenue for the government of around EUR 10 billion. Around half of this sum
See MoreFrance Plans Higher Exempt Threshold for Low Earners
The French Prime Minister intends to take around 650,000 low income individuals out of the direct tax net by adjusting the personal income tax thresholds. Taxpayers with income up to around EUR 15,000 would not be paying income tax after these
See MoreSwiss Bankers Ask France to Increase Amnesty Uptake
The President of the Swiss Bankers Association (SBA), has suggested that France should extend and enhance its tax regularization facility to allow more taxpayers to make a voluntary declaration to normalize their tax affairs. At the moment the
See MoreFrance and Germany- Businesses Warn Against EU FTT
Representatives of businesses throughout France and Germany have expressed their strong reservations about the planned financial transactions tax (FTT) currently under discussion among some member countries of the European Union (EU). Medef, BDI and
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