The Finance Law for 2019 (ref 2018-1317 of 28 December 2018 and promulgated on 30 December 2018) includes measures that concern individual taxpayers. The provisions generally have an effective date of 1 January 2019.
The existing provision referred to as the “exit tax” allows France to impose tax on the unrealized capital gains on shares and certain financial instruments owned by individual taxpayers who leave France if afterwards, the individuals sell the shares or the financial instruments before the end of a time period (set at 15 years).
The Finance Law for 2019:
These modifications only apply to individuals transferring their tax residency outside France as from 1 January 2019. The 15-year time period still applies to individuals having left France before 2019.
Other measures affecting individual taxpayers and having an effective date of 1 January 2019 include:
For more information, contact a tax professional with the KPMG member firm in France (KPMG Avocats):
Mustapha Oussedrat | + 33 (0) 1 55 68 48 01 | firstname.lastname@example.org
Patrick Seroin | + 33 (0) 1 55 68 48 02 | email@example.com
Sophie Fournier-Dedoyard | + 33 (0) 1 55 68 48 24 | firstname.lastname@example.org
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