Looking closely at the article it is actually about the need to complete one's French Tax Return by 15th June (21st in Tarn and T&G for on-line declarations) and to include all the details needed for ISF (commonly called wealth tax).
The article is studded with words and phrases designed to scare the reader - or delight the UK based frog haters. "Stealth ploy to squeeze extra tax from foreigners"; "in a matter of days"; "a 10000 euro fine"; "could result in imprisonment"; "chaos and confusion amongst expats"; "fear is spreading ..the penalties are big bucks"; and those with wealth over 1.3m euros will have to pay wealth tax of 0.25 and 0.5% and, shock horror, wealth includes those trusts designed to mitigate tax, which are "an Anglo-Saxon thing ..little understood in France."
Most of the expats I know have already completed their tax returns and have absolutely no fear of ISF and those to whom the tax may apply may well have always known about it as they have advisors who knew about the changes introduced by the Sarkozy government. Apparently the Mail thinks that when socialist Hollande ousted Sarkozy everything was "flung into the air". In fact Hollande has been quoted as wanting to reduce the cut off back to 800,000 euros as it was in previous years, but as yet no action has been taken.
Expats choosing to live in France have always been aware that ISF existed and living here means accepting the French way of life, including taxation laws. In short, "you makes your choice and you pays your money".
Malcolm Johnstone
The link below may not be suitable for the rich of a nervous disposition.
http://www.dailymail.co.uk/money/mortgageshome/article-2158326/British-expats-France-face-shock-8-000-fine-declare-inheritance-trusts.html#comments
Most of the expats I know have already completed their tax returns and have absolutely no fear of ISF and those to whom the tax may apply may well have always known about it as they have advisors who knew about the changes introduced by the Sarkozy government. Apparently the Mail thinks that when socialist Hollande ousted Sarkozy everything was "flung into the air". In fact Hollande has been quoted as wanting to reduce the cut off back to 800,000 euros as it was in previous years, but as yet no action has been taken.
Expats choosing to live in France have always been aware that ISF existed and living here means accepting the French way of life, including taxation laws. In short, "you makes your choice and you pays your money".
Malcolm Johnstone
The link below may not be suitable for the rich of a nervous disposition.
http://www.dailymail.co.uk/money/mortgageshome/article-2158326/British-expats-France-face-shock-8-000-fine-declare-inheritance-trusts.html#comments
