Temporary gift-tax exemption for cash gifts up to €20,000
Article 1 of the Act of 9 August 2004 exempts from gift duties, up to €20,000 per donor and per recipient, cash gifts in full ownership to a child, grandchild, great-grandchild or, failing descendants, a nephew or niece. The gift must be made between 1 June 2004 and 31 May 2005 to an adult recipient; it is disregarded for the application of Article 784 of the General Tax Code and must be declared within one month.
Measure originators
No official estimate found for this measure.
Measure impact
A parent or grandparent could give up to €20,000 in cash to each adult child, grandchild or great-grandchild (or nephew and niece if childless) free of gift duty, for gifts made from 1 June 2004 to 31 May 2005.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
President of the Republic signature
Publication au Journal officiel
Possible referral to Constitutional Council
Décision de conformité / censure partielle
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration