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Courtesy of:

During December 2014, the following legislation entered into force:

  • the Loi de Finances 2015;
  • the Loi de Finances Rectificative 2014(I); and
  • the Loi de Financement de la Sécurité Sociale 2015.

In this five part series of posts we will summarise any changes on tax and how they may effect you. The understanding of the principle changes comes courtesy of The Spectrum IFA Group: Independent Financial Advisers.

INCOME TAX (Impôt sur le Revenu)
The barème scale, which is applicable to the taxation of income and gains from
financial assets, has been revised as follows:

Income Tax Rate
Up to €9,690 0%
€9,691 to €26,764 14%
€26,765 to €71,754 30%
€71,755 to €151,956 41%
€150,957 and over 45%

The above will apply in 2015 in respect of the taxation of 2014 income and gains from financial assets.

WEALTH TAX (Impôt de Solidarité sur la Fortune)
There are no changes to wealth tax. Taxpayers with net assets of at least €1.3 million will continue to be subject to wealth tax on assets exceeding €800,000, as in the table below:

Fraction of Taxable Assets Tax Rate
Up to €800,000 0%
€800,001 to €1,300,000 0.50%
€1,300,001 to €2,570,000 0.70%
€2,570,001 to €5,000,000 1%
€5,000,001 to €10,000,000 1.25%
Greater than €10,000,000 1.5%

If you would like to find out more about how these changes could affect you, we recommend speaking with your local Spectrum IFA Group adviser.

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