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Special agents

Under new rules, many non-resident owners of French property must appoint a tax agent to
guarantee payment of their CGT, says Henry Dyson

17 January 2003

Capital gains tax of 33.33 per cent is payable in France on the sale of all real property by owners who are not resident for tax purposes in that country. However, no such tax is payable by private individuals who have owned their property for more than 22 years before its sale. Until the end of 2002, unless it was possible to obtain exemption (dispense) from this requirement, it has been the obligation of every non-resident to appoint a tax agent (représentant fiscal) to guararantee the payment of any CGT over and above that paid on sale found due during the next four years, after which any further claim becomes statute-barred. New rules in force This rule applied to all owners, whether private individuals or companies. As from 1 January 2003, the rule dramatically changed and the dispense is a thing of the past. From that date, all companies which are not incorporated in France are required to appoint a représentant fiscal, irrespective of the amount of the sal...

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