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New Measures for Retirement and CGT
The French will now have to work beyond the age of 60 in order to get a full pension after President Nicolas Sarkozy's Right-wing government raised the retirement age to 62. In this way, the change is expected shortly to get the country's spiralling public finances under control.
The French Government and Mr Woerth, the labour Minister confirmed yesterday (16th June 2010) some measures to slash budget deficits.
Changes in capital gain tax and how this applies to English owners of property in France.
Capital gains tax in France is called 'impot sur les plus values' and is payable on the sale of land or buildings, on shares, and certain other personal property.
If you are not resident in France, but are resident in the EU, then the applicable tax rate was 16%, as no social charges are payable. The new rate should be 17% soon. The French Government will discuss the proposals in July which will be expected to go before the autumn.