Wealth tax: France (1)

France has a long history of taxation of wealth, dating from 1945. In 2018, President Macron replaced the wealth tax with a tax assessed solely on real estate not allocated to business activities known as the Impôt sur la Fortune Immobilière (IFI). The paper provides a brief history of wealth taxes in France, including their revenues since 1995, before describing the tax on real estate that is currently in force. I cover the scope of the tax base on real estate (including deductibility of debt), its territoriality rules, its application to households and trusts, issues of valuation and liquidity, the relationship with other taxes, and administrative issues.

DOI: 10.47445/134
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