A new legislative reform regarding home improvements will now make it mandatory for property owners in France to disclose any modifications brought to the building for the purpose of taxation in the following year. This measure aims at allowing for a better determination of a property’s true value and will also increase the income received from local councils from the taxes due for property improvements. Our French law firm can offer you assistance if you need more information on local rates for property modifications.
At the beginning of May, the French Government released a document revealing new measures to encourage employment which will also include tax breaks for local and foreign investors. The Government also declared the French income tax will not be merged with the social security, as this measure would only lead to an increase of the tax burden on the citizens.