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Exempted income from French sources received by non-resident

Gains from the sale of transferable securities that are made directly or through an intermediary by persons not domiciled for tax purposes in France and do not derive from substantial interests are exempt from income tax. This also applies to legal entities whose registered office is situated outside France.

Interest on deposits made by non-residents with credit institutions established in France and interest on most bonds subscribed by non-residents are also exempt.

Salaried employees and senior managers treated in the same way for tax purposes (and certain non-salaried employees) not domiciled for tax purposes in France during the previous five years who fix their tax domicile in France as of the time they take up their position there benefit from exemptions relating to their occupational income.

Such “impatriates” are exempt until 31 December of the fifth year following the year in which they take up their position. The income tax exemption also applies to 50% of certain income from capital assets and income from intellectual or industrial property rights received in other countries (“passive income”) and certain capital gains on the disposal of transferable securities and shares held in other countries.

Source: French Tax Office

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Posted by on Aug 31 2010. Filed under Exempted income, Exempted income. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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