TAX

For an effective understanding of taxation

SBS wealth management services

SBS wealth management offers you assistance in editing your tax return. But to properly address this delicate subject, it will be necessary first to lay the foundations through a few simple reminders that can be very useful for a realistic approach and an effective understanding of taxation in France.

What is taxation?

Taxation refers to all laws, rules relating to the determination and collection of taxes.

In short :

  • What is the calculation of the tax based on? : On the income and existing asset
  • Who is affected by his payment? : tax payers

Most of the income collected in the national territory is subject to tax, according to different methods of calculation depending on the type of income and the categories of recipients of such income.

The different types of taxes

However, there are different types of taxes, besides the regular revenue income tax. Here is a lost of the most common ones

– TVA = Equivalent of the V.A.T
– IS = Company profit tax
– Payroll taxes (Obligatory in France)

IFI = A special tax on real estate, only for the wealthiest. (Above 1.3m € worth of asset)

Transfer rights =  When you sell a property, those taxes have to be paid on a percentag eon the property value. In France, we call them Notary taxes but they are collected by the government.

–  Tax on capital appreciation  = Tax collected on the profit margin from any commercial operation

Who is affected by the tax?

  • Individuals (from a certain level of income)
  • Employees
  • Businesses (on their profits made in the year)
  • Consumers (VAT).
  • The wealth of the richest people (ISF)
  • Employees and their employers (through social security contributions due on wages and dividends received)
  • Heirs (taxation on their heritage rights when they received money or estate)

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