Exceptional 30% allowance on capital gains from sales of building land and of buildings to be demolished in high-demand areas

Article 4 of the 2015 Finance Act creates an exceptional 30% allowance on capital gains from sales of building land, applying to income tax and social levies, where the sale follows a sale agreement dated between 1 September 2014 and 31 December 2015 and is completed by 31 December of the second year after the agreement. The allowance is extended to built property in continuous urban areas of more than 50,000 inhabitants where the agreement is signed in 2015 and the buyer undertakes to demolish and rebuild housing within four years. Sales to relatives of the seller or companies in which they are partners are excluded.