French Tax Returns
Whether residing in France or not, if you receive income from a French source, rents from real estate, for example, you are required to declare this income and file a tax return in France. There is no reporting threshold, any income must be reported even if it is not taxable. The Income-tax is progressive in France, the higher the income, the higher the rate. This tax is calculated on the basis of a scale updated annually. The scale consists of 5 brackets. You become liable for wealth tax if the net value of your real estate assets exceeds €1.3 million. Assets consideed are building and immovable property.
There exist multiple tax deductions and credits allowing you to lower your taxable income.
At Roche & Cie, our team of experienced professionals have an important knowledge of the french tax system and possible tax saving devices which may apply to each individual, being resident or non-resident. Here are the service we can offer you:
- Assistance in the collection of relevant information and documents necessary for preparing declarations.
- Calculation of revenue categories: comparative fixed costs/actual costs, property revenue, industrial and commercial benefits (BIC), non-commercial benefits (BNC) etc.
- Optimisation of tax reductions and credits (interest on loans, rental investments, services to individuals, maintenance allowances, expenses related to care of the elderly, sustainable development expenses, donations etc.).
- Completion of administrative forms (2042, 2044, 2042-C etc.).
- And the calculation of tax and social security contributions.
- Assistance in evaluating your assets.
- Calculation of taxable net assets.
- Calculation of wealth tax.
- Proposals and measures for reductions.
- Assistance for audits, corrective declarations etc.
All our tax filings are checked by senior accountants and, using the best software and internal systems, we remind you and ourselves well in advance of any filing deadlines. This ensures we get the right paperwork from you to ensure all adjustments and allowances can be included in good time before your tax filing deadline.