21st March 2022
French Wealth Tax 2022French Wealth Tax news for this (presidential) year, the deadline to file 2022 wealth tax return to be revealed next month, so keep an eye on our blog.
The French tax authorities will reveal the 2022 real estate wealth tax return filing deadline in April 2022. Based on previous filing dates, we estimate that returns will have to be filed by 21 May 2022.
By way of reminder, since 1 January 2018, French wealth tax has been replaced by an annual real estate wealth tax, known as Impôt sur la Fortune Immobilière ('IFI'), which is a tax on real estate whose taxable base is limited to non-business related real estate assets.
Non-French tax residents are only taxable on French real estate assets, whilst French residents are usually taxable on their worldwide real estate assets. Regardless of your residence position or marital status, you are taxed as one household for IFI purposes, and this includes your spouse and minor children.
You will be liable to pay IFI in 2022 if the net market value of your French real estate assets exceeds €1.3m as at 1 January 2022. French estate agents can help you assessing the value of your French real estate.
Please note this article is for general information only. You should not rely on it without advice on the specific facts of your case.
Our UK based French tax experts specialise in such French/UK issues; including taxation, wealth tax, succession, real estate etc. They have extensive knowledge of French tax, please contact us for more details.