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This chapter is not exhaustive and is limited to broadly outline the tax consequences of the main events occurring when doing business in France. It does not constitute a tax advice or a client - attorney relationship. Materials are not suitable for tax analysis. Visitors are invited to consult a tax lawyer before taking any decision.
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E.U. Members
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Wealth Tax
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Germany
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no
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Austria
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no
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Belgium
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no
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Denmark
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no
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Spain
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Yes
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Finland
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Yes
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France
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Yes
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Greece
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no
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Ireland
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no
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Italy
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no
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Luxembourg
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no
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Netherlands
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no
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Portugal
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no
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UK
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no
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Sweden
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Yes
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French nationals resident in Monaco
According to the 2003 protocol to the tax treaty between Monaco and France, French nationals resident in Monaco will pay wealth tax on their worldwide estate and no longer only on their French assets. The protocol will apply with retroactive effect from January 1st, 2002. However, as the protocol is not in force yet, the French tax authorities indicated that no penalty will be applied for the period prior to March 14, 2005, day of the ratification. In addition instalments payment on a period not exceeding 5 years may be granted on a case by case basis.
LUXEMBOURG – NET WEALTH TAX FOR INDIVIDUALS – ABOLITION
Luxembourg tax authorities indicated that the abolition of net wealth tax for resident and non resident is effective as of January 1st, 2006 onwards. Individuals and individual entrepreneurs no longer have to calculate the unitary value of business capital, exploitation rights and real estate.
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