French Wealth Tax To Be Replaced By A Real Estate Wealth Tax In 2018
Pursuant to the draft French finance bill for 2018, French wealth tax (“impôt sur la fortune” or “ISF”) will be abolished and replaced by a new real estate wealth tax (“impôt sur la fortune immobilière”, or so-called “ IFI “) whose taxable base will be limited to non-business related real estate assets.
This reform may significantly impact many non-French residents who could enter into the scope of IFI or see their annual amount of wealth tax increase – notably with respect to the new restrictions of debt deductibility.
A review of the structure which holds French real estate prior to January 1st, 2018 may help to identify any planning opportunities.
See the article here: 20171102_gsb-tax-alert_new-french-real-estate-wealth-tax