The Finance Bill 2011 has significantly changed the taxation of securities, real estate and tax loopholes: the abolition of transfer threshold, delay in application of the allowance for length of detention, removal of reduction in respect of loan interest, etc.. We offer an overview of the major changes *
-Main developments Securities
>> The tax rate on capital gains, interest and dividends passes, 1 January 2011, 18% to 19%, excluding social charges (the latter increasing to 12.3%) >> Removing the transfer threshold: capital gains will be taxed from 1 € uro transfer
for Reminder: Since January 2010, only social security contributions were collected from 1 euro, capital gains were taxed only when annual sales were above € 25,830
>> Report of 3 years of application for the reduction of length of detention. -Key developments on housing
>> Remove the reduction in interest loan for the purchase of a principal residence. >> Increase 1% of the taxation of capital gains, or 17% instead of 16%, plus the 12.3% social levy
>> Maintenance of abatement for a period of detention, or 10% per year beyond the fifth year. Thus, beyond 15 years, the tax on capital gains is exempt. However, this relief is abolished for the calculation of payroll taxes, which the seller must pay 12.3% on capital gains, including whether it sells well after the 15th year of detention.
* subject to adoption of the draft Finance Bill 2011
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