When is the French real estate wealth tax filing deadline?
The deadline to file a real estate wealth tax return is 20 May 2021 for non-French tax residents and 26 May 2021 for those with French taxable income, filing online.
What is the IFI tax?
By way of reminder, the French real estate wealth tax, known as Impôt sur la Fortune Immobilière (‘IFI’), is a tax on real estate whose taxable base is limited to non-business related, real estate assets.
Who has to pay the IFI tax?
Non-French tax residents are only taxable on French real estate assets, whereas French residents are taxable on their worldwide real estate. Regardless of your residence position, or your marital status, you are taxed as one household for IFI purposes; this includes your spouse and minor children.
You will be liable to pay IFI in 2021 if the net market value of your taxable real estate assets exceeds €1.3m as at 1 January 2021.
Further information
For further information, please speak to your usual Druces contact or:
- David Anderson at d.anderson@druces.com or +44(0)20 3794 5957
- François Mounielou at f.mounielou@druces.com or +44(0)20 3794 5958
Please note this article is for general information. You should not rely on it without advice on the specific facts of your case.
