Posted on 07/04/2012 3:10:25 PM PDT by bruinbirdman
Approximately 200,000 Britons own second homes in areas such as the Dordogne and other parts of France, particularly those serviced by budget airlines.
Now, however, holiday home owners find themselves in the sights of President François Hollande as he seeks to tax the better-off to reduce France's large budget deficit.
On Wednesday (July 4th), the French government announced it was to increase taxes on foreign-owned second homes. Tax on rental income would rise from 20 per cent to 35.5 per cent, and capital gains tax on property sales would rise from 19 per cent to 34.5 per cent. The extra in each case is being labelled a "social charge".
A Treasury source said on Wednesday night: "We will need to study the details. But we will of course challenge any proposal which breaches European single market laws and anti-discrimination rules."
It is understood that President Sarkozy proposed a similar tax increase last year which was also challenged by the British Government.
David Cameron infuriated the French last month by promising Britain would "roll out the red carpet" to wealthy French citizens and companies who wanted to emigrate and pay their taxes in Britain.
Holiday home owners already pay two other taxes to the French government: the taxe fonciere, which is paid by the house owner and the taxe d'habitation, which is paid by those who live in it.
The tax rises are part of a wider package of increases that are intended to raise €7.2 billion (£5.8 billion) to meet a budget deficit target of 4.5 per cent after the government of Nicolas Sarkozy left the French exchequer with an expenditure black hole.
An additional €2.3 billion (£1.8 billion) will be raised from a levy on those whose net wealth is €1.3 million
(Excerpt) Read more at telegraph.co.uk ...
Repeated for emphasis, of course.
kinda hard to sell now with the tax increase
"What's in your wallet... house, car, computer?"
They love the Illegal Invaders, so why not let them into their Houses.
They should have to display a Gun Free Zone sign as well.
They recently turned the old Nazi resort in Prora on the Baltic into a youth hostel. Maybe the lib elites will flock there:
“Mitterand reversed course, became what amounted to a center right president dressed as a socialist, and was overall a pretty good friend to the USA and President Reagan.”
Agree!!! If all Socialists were like Mitterand, the world would be a MUCH BETTER place. He fully supported Reagan in our standoff with the Soviets, and for that I will always hold him in high regard. He was a great guy and badly needed, compared to some of the clowns over there.
“Imagine the blowback if Obama purposed to tax any home or second home over $500,000 a surcharge of 10 percent tax...because they rich...Since most limo libs and hollyweird types are living in such homes I think it’s a great idea..../s”
That’s why Obama doesn’t have the gonads to go after the upper middle class - the people that make $150k plus - that’s where the money is, but the bulk of those people are idiot liberals - and he cannot risk angering them, particularly where they are concentrated - in the Northeast and California.
>>> But I think you people have to start taking your democracy, and your votes for president in particular, more seriously. <<<
I hope you realize you’re preaching to the choir here. We take all those things seriously.
But your point about some of our citizens, and those that aren’t but still manage to get into a polling place, who don’t have a clue about any of it is understood.
The problem is that the Marxists and socialists have infested our schools, and rooting them out is not an easy task, and they’ve done serious damage to our nations youth.
Socialists are happy when YOU pay your taxes,they’re pissed when they have to pay their own.
Très bien Obamanomics français!
Well, there was some sarcasm in my post.
Tax on rental income would rise from 20 per cent to 35.5 per cent
LOL HAHAHAHA good for Socialism - Go Team!!!
“Last time I saw a mouth like that,there was a hook in it.”
R.Dangerfield
Yes, I know.
Don’t buy property in France. In six months you will be able get for a lot less.
Where is Henry V when England needs him?
Yeah. Love. It.
You may be correct... I forgot how “special” rich and power communists and socialists are. Look at the obama clan.
LLS
Today’s left would be more at home deep within china or maybe north korea. They would love that. The Pyong Yang Film Festival!
LLS
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