Austerity plan. The measure on the real estate capital gains passedAfter much discussion, government and majority agreed on the austerity plan on Tuesday with the key number of changes. MEPs voted in particular the night of Tuesday to Wednesday the measure on real estate gains.Discussions will continue on Wednesday in the Assembly. Modification for capital gains on second homes. The government concessions. He wanted to eliminate any exemption on the capital gain on sales of second homes.An option too “brutal”, say MEPs who brandished the threat of seizure of real estate. Finally, all sales for a second home owned for 30 years will be totally exempt. For others, the tax is progressive.
In detail, there will be no exemption from the first five years of detention of property, then a 2% reduction on the gain between five and 15 years, 3% between 15 and 25 and finally 10% the last five years, what happens to a full exemption after 30 years.
This measure will come into force in respect of acts signed on or after 1 February next and not the last 24août. In return … Three measures should be adopted to offset the shortfall of the relaxation on capital gains. The government wants to remove the Consolidated Global Profit. ” This tax benefit was created for French multinationals, allowing them to include in their taxable income in France any deficits in their foreign subsidiaries. This has the effect of lowering their taxes. Also new is the introduction of registration fees on transfers of shares of SCI (property investment companies) carried out abroad on real estate located in France, for a total of 100 million euros.
Finally, the last position: doubling the share of costs and charges applied to capital gains on equity securities held for more than two years by the companies.
