Capital gains on securities taxed under the progressive income tax scale
The 2013 Finance Act ended the 19% flat rate on individuals' capital gains from the sale of securities and company shares: gains realised from 1 January 2013 are taxed under the progressive scale, after a holding-period allowance of 20% (2 to 4 years), 30% (4 to 6 years) or 40% (6 years or more). Business founders meeting holding and management conditions may opt for a 19% rate. 2012 gains are taxed at a 24% flat rate.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
The measure concerns individuals selling shares or company interests. For gains realised from 2013, these allowances were replaced by those of the 2014 Finance Act (50% and 65%, with an enhanced regime up to 85%). The single flat-rate levy replaced this regime on 1 January 2018. The article was upheld by the Constitutional Council.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si Ă©chec CMP
Joint committee
DĂ©saccord Ă©ventuel
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)
Council of Ministers
Validation interne