French Wealth Tax … latest warning
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For tax payers with total taxable net wealth of 1,300,000€ and over, wealth tax will be calculated on the tranches from 800,000€ and over, applying the old rates of 0.55% - 1.8%.
French residents with net wealth totalling between 1,300,000€ - 3,000,000€ will not have to make a declaration to the Fisc. Instead, in October this year, they will automatically receive a notice of additional tax due and will have to settle this no later than 15th November 2012.
French residents with net wealth exceeding 3,000,000€ and non-residents do have to file a special tax declaration no later than 15th November 2012 re this one-off, additional tax payment at their local tax office together with the sum required to settle it.