Tax on high real-estate capital gains (above €50,000)
The December 2012 Amending Finance Act creates a tax on taxable real-estate capital gains above €50,000 made by individuals, partnerships and non-residents (Article 1609 nonies G of the General Tax Code). Building land is excluded. The rate ranges from 2% (gains of €50,001 to €100,000) to 6% (above €260,000), with a smoothing mechanism at the start of each band. It applies to sales from 1 January 2013, except where a sale agreement had a certain date before 7 December 2012.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
The tax comes on top of income tax and social levies due on the gain. According to the Senate general rapporteur, its yield was estimated at €230 million, of which €120 million was allocated to the social housing guarantee fund (CGLLS).
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 échec CMP