The annual tax filing system for the French income tax returns (Declaration des Revenus) is due to open on 7th April.
Both residents of France, and non-residents with French income such as from property rental, are obliged to submit an annual income tax return.
The French tax year is equal to the calendar year. The presentation deadlines this year are as follows:
Manual returns: 19th May
Returns filed by internet: 24th May
For furnished properties: The full disclosure tax regime (Regime Réel) is generally favourable and economically viable to register if you have significant rental income, and your rental expenditure is more than 75% of your rental income. Registration for this regime is not simple or straightforward- processing times by the Tax Office are currently around 3 months or more. Also unfortunately it is quite common that online filing passwords sent to the taxpayer by the Tax Office do not arrive, which causes complications.
For the more simplified Micro Regime, in order to benefit from the increased tax allowance available, yourfurnished property should be registered as a tourist rental (Meublée de Tourisme) at the local Town Hall (Mairie).
For manual returns, the deadline is 19th May.
For returns filed by internet;
24th May: Départements 01 to 19;
31st May: Départements 20 to 54; 8th June: Départements 55 to 976.
Returns can be submitted from the following dates:
Online filing: 7th April
Manual filing: The manual returns are normally released by the first week of May.
After we file your Tax Return, the Tax Office will calculate the tax due and send you a payment notice, avis d’imposition. The date of issue is by late September.
In France there are monthly payments on account of income tax which are based on the income tax bill in the previous year. Any balance of tax due is paid in August / September in your final tax assessment, and this will also be debited directly to your French bank account.
Wealth Tax (Impôt de solidarité sur la fortune)
Residents of France are subject to Wealth Tax on their worldwide net assets, although there are now exemptions available for the first five years of residence, please contact us for details.
Non-residents only pay Wealth Tax on their French net assets.
Eligible assets include property; cash in deposit accounts and other financial investments. Business assets are generally exempt.
You need to declare if the net value of your owned real estate is over € 1,300,000. The deadlines are the same as for the income tax returns.
Wealth Tax is now declared as part of the income tax declaration (2042C).