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Taxes Despite announcements of tax reductions, taxpayers are still faced with several new measures. Some reduce the bill, others on the contrary increase it .
However, two main directions are emerging, namely channeling even more savings in favor of businesses and providing fiscal support for the development of the digital economy. Furthermore, after eliminating the first tranche of income tax last year, the government is strengthening income tax (IR) relief for low-income households, by adjusting the discount.
MOST OF THEM:-
Employee shareholding:
The Macron law has relaxed the free share allocation system (AGA) put in place in 2005, which allows public limited companies to proceed, under certain conditions, with the free allocation of shares for the benefit of their employees and agents. social. The AGA can now benefit, for the calculation of IR, from the reduction on transfer gains depending on the length of ownership.
Life insurance :
Inheritance taxes have been reduced for life insurance contracts taken out with the spouses’ common money. This change to the so-called Bacquet tax doctrine, announced by the government on January 13, is the result of a long-standing fight by Afer, the French savings and retirement association. From now on, the children of a couple who have opted for the community regime will only be taxed on the life insurance contract upon the death of the second spouse. They will therefore not have to pay inheritance tax on the death of the first spouse with an unsettled contract. “This new position of the administration is good news for heirs, in particular children who could have to pay inheritance tax on half of the value of the unsettled contract,” we note at Banque Neuflize OBC. But this reversal of doctrine requires several clarifications, including its date of entry into force. »
” Crowdfunding “:
A tax gesture has been granted to individuals who grant loans to SMEs, via participatory financing or “crowdfunding” platforms. Since January 1, they can deduct the capital loss suffered in the event of non-repayment of this loan in the calculation of income tax.
Capital losses:-
After several years of profound changes, the system of capital gains on the sale of securities seems to have stabilized. After deductions, income and capital gains are, like employment income, subject to the progressive income tax scale. However, a reversal, resulting from a decision of the Council of State of November 12, 2015, upsets the calculations of taxpaying shareholders who carried out bad transactions and realized capital losses. They will now be able to deduct them in full, whereas before this ruling, they were, like capital gains, reduced by the deduction for the length of holding. “This new rule is not always favorable,” warns Lila Vaisson-Bethune. Before any request for reimbursement of overpayment for operations carried out in 2013 and/or 2014, you have to do your calculations carefully and assess the impact on all the taxes concerned. »
“SME-ETI” PEA:
To promote the financing of SMEs and mid-sized companies and mobilize “dormant” savings, a mechanism for deferring the taxation of income tax on capital gains arising from the sale of SICAV or UCITS shares monetary has been put in place. The condition: these capital gains must be reinvested within one month in an “SME-ETI” PEA. Please note, this measure only applies between April 1, 2016 and March 31, 2017. Furthermore, social security contributions and, where applicable, the exceptional contribution on high incomes (CEHR) remain due. Finally, capital gains are only exempt from income tax after five years of holding in the scheme.
THE LEAST
Notary fees :
Transfer taxes (incorrectly called “notary fees”) on real estate have increased further. Since January 1, the departmental share of transfer taxes (the capital has the status of a department) paid by buyers of housing, offices and businesses has increased from 3.8% to 4.5% of the purchase price. good. . With this increase, the total cost of acquisition increases from approximately 7% to 7.7%.
ISF-SME:
The ISF-PME system, which gives entitlement to a tax reduction in the event of entry into the capital of SMEs, has been reformed. Among the changes, it should be noted that managers or shareholders can no longer – except in the case of follow-on investments – reduce their tax by investing in their own company. In other words, reinvesting in your business each year to reduce your wealth tax becomes very complicated.
Non-residents:
The Court of Justice of the European Union had ruled: social security contributions on capital income and real estate capital gains of non-residents must be reimbursed. But they will again be subject to this 15.5% tax via a new article in the Social Security financing law (to be continued….).
Golden parachute :
The taxation of severance pay paid to corporate officers and managers – the “golden parachutes” – has been tightened. The latter are now exempt from income tax up to 3 times the annual Social Security ceiling compared to 6 in the past.
Finally, note that electronic declaration becomes compulsory when it is technically feasible and the reference tax income exceeds 40,000 euros.
