VAT is a non-cumulative tax and is imposed only on the price of the services rendered or the goods sold. In order to ensure that only said added value is subject to VAT, a VAT credit system has been adopted which permits a taxpayer to claim as a credit against […]
Where specific provision of law so permits, certain economic activities which would normally be subject to VAT are exempt from tax. The principal activities or persons that are exempted from VAT are: certain insurance, banking and financial activities, certain not-for-profit activities of Not-For-Profit Associations, doctors and other medical professionals, athletes, […]
VAT is imposed on all taxable economic activities of a person who is not an employee. The taxable character of an economic activity does not depend upon its profitability; for example, sales at or below cost are taxable. In order to be taxable, a transaction must, in principle, be between […]
As a general rule, VAT is imposed on all taxable economic activities conducted or, in specific cases, used in France. For purposes of the imposition of VAT, France includes metropolitan France, Monaco and the continental shelf and territorial waters. The Overseas Departments and Regions are treated as foreign countries: such […]
The value added tax (French VAT or TVA) (hereinafter referred to as “VAT”) was instituted in 1955 and is the principal form of indirect taxation in France; in 2007, it generated approximately 49 percent of all French tax receipts. The rules applicable to French VAT are notably governed by European […]
All individuals who are tax domiciliaries of France are subject to wealth tax if their world-wide net taxable assets as of January 1 of any given taxable year are valued in excess of the legal taxable threshold. The wealth tax is also imposed on all individuals who, although not otherwise […]
To know how a person will be imposed in France, you must determine whether she/ he is French domiciled from a tax viewpoint. 1 Definition of domicile A person is considered, subject to an international convention, as having his fiscal domicile in France when one of the following criteria in met: – The […]
It is very easy to spend money on travel, cars and other electronic gadgets. And yet it is essential to know how to save money. Here are five tips to grow your revenues without depriving yourself. Make your accounts and minimize your banking costs Check their accounts and manage everyday […]
Whether benefits are achieved through a branch or a subsidiary, they are liable to corporation tax as long as the foreign entity is a corporation (or the French subsidiary has this form). The withholding tax (25% in principle) that affects the distributions to non-residents applies to dividends paid to foreign […]
Tax Returns. A corporate income tax return with all its appropriate schedules must be filed within a period of three months following the close of each fiscal year; if no fiscal year ended during a calendar year, a return must be filed for the preceding calendar year on or before […]
