As at 1 January 2010

•New Franco-British treaty taxing capital gains made on immovables in France by British companies. (Treaty approved on 18 December 2009 and applicable from 1 January of the following year).

•Non resident property dealers aretaxed at 33.3 %, instead of 50% as before, unless they reside in an uncooperative country.
(measure applicable to all profits made on immovables on a regular basis - Section 22 §1 R of the amended Finance Bill for 2009).

•Exemption for disposals under 15,000 Euros:
If the ownership is divided into bare title and usufruct, the threshold will be set according to the proportion that is held, but still for the value of the bare title.
Example: Property sold for 100,000 €
1 beneficial owner (beneficial interest valued at 30%) and 7 bare owners
Value of each jointly owned share of bare interest 10,000 €, i.e. 14,285 € in absolute title, so the 7 bare owners are entitled to the exemption.
No exemption for the beneficial owner.

•The exemption is maintained for social housing building projects:
Until 31 December 2011, disposals in favour of social housing organisations, agreed directly or via a local council or certain public bodies, are exempt.

From 1 March 2010

•Non residents living in uncooperative countries are taxed at 50 %.
(Section 22 §1 S 1° of the amended finance bill for 2009).

This list will be updated on 1 January of each year.

•The tax due by companies that are residents of the European Union, plus Iceland and Norway, will be calculated in the same way as for company tax.
(Section 22 §1 S 2° of the amended finance bill for 2009).