French Tax Law
There are highly likely to be tremendous changes due to BREXIT and this paragraph will need to be fundamentally reviewed In France the most common taxes likely to be encountered are :
TVA or Taxe sur la Valeur Ajoutée
This is the direct equivalent of VAT or Value Added Tax in other EU member states such as the United Kingdom and the current French standard rate is 20.0%, although lower rates are applicable to certain areas such as take-away food (5.5%).
IRPP or Impôt sur le Revenu des Personnes Physiques
This relates to personal income tax and France has a self-declaratory system and the employer is not responsible for deducting income tax at source.
This is a tax payable by the occupier of real property
This a land tax payable by the owner of real property – the owner/occupier of real property pays both.
Impôt sur les sociétés
This is corporation tax payable by commercial companies.
This is a tax payable by all business entities, be they subject to corporation tax or not.
Impôt sur la plus value
This is French Capital Gains Tax (CGT) and it is most often encountered upon selling real property, particularly second homes in France. It is subject to taper relief over a fifteen year period.
IFI – Impôt sur la Fortune Immobilière
This is a wealth tax payable by those owning real property in France of a value exceeding 1.3 million Euros.