Taxes in Europe Database v2
Essentially articles 885 A to 885 Z of the Tax code (Code général des impôts).
The solidarity tax on wealth is levied on all directly or indirectly owned movable or immovable properties located in France or abroad for residents, and only properties located in France for French non-residents.
The solidarity tax on wealth is an annual tax payable by individuals on account of their ownership of personal assets, the net value of which, assessed on 1 January of the year of taxation, exceeds € 1,300,000 (in 2015).
The tax is assessed by household, which comprises spouses, cohabiting partners, partners of a civil solidarity pact (PACS) and minor children whose assets either of them legally administers.
The tax base includes all assets, rights and values belonging to the taxable persons on 1 January of the year of taxation (developed and undeveloped land, sole proprietorships, farms, furniture, financial investments, cars, aircraft, pleasure craft, etc.). The tax base does not include profesional goods, shares held by employees, and works of art. As a rule, taxable assets are valued according to the rules applicable to inheritance tax (in principle at market value). The value is assessed on Jamuary 1st, of the year of taxation. A 30% relief is applicable to the real market value of the property which the taxpayer owns and occupies as his or her main home.
2015: tax brackets for the net taxable worth W
• Less than € 800,000 of wealth: 0
• Between € 800,000 and € 1,300,000 of wealth: 0.5% x W - 4000
• Between € 1,300,000 and € 2,570,000 of wealth: 0.7% x W -6600
• Between € 2,570,000 and € 5,000,000 of wealth: 1% x W - 14310
• Between € 5,000,000 and € 10,000,000 of wealth: 1.25% x W - 26810
• Over € 10,000,000 of wealth: 1.5% x W -51810
A “smoothing” mechanism has been introduced for assets worth between € 1,300,000 and € 1,400,000. The tax cut is equal to € 17,500 - 1.25 % P, where P is the net taxable value of the assets.
Besides, for taxpayers domiciled in France for tax purposes, the wealth tax is reduced, without possibility of refund, by the difference between principally :
1) the sum of this tax (2015) and the taxes owed in France and abroad on the revenues and products of the former year (2014 revenues) ;
2) 75% of the sum in 2014 of their worldwide income, their revenues exonerated from income tax and products subject to withholding taxes.
If the net taxable wealth is betwwen € 1,300,000 and € 2,570,000 the taxpayers declare the solidarity tax on wealth with their income tax return. They had to pay by 15th September 2015.
If the net taxable wealth is over € 2,570,000, the solidarity tax on wealth has to be paid at the same time of its declaration, by latest 15 June in 2015 for french residents (15 July otherwise).
Public finances general directorate (« direction générale des finances publiques »).