Capital Gains tax part 3

In which circumstances must one have a fiscal representative  ?

You need an accredited representative except  in cases which provide for automatic dispensation.
Automatic dispensation applies in the following two cases :
Sale of real estate where the price is equal to or less than 150 000 €
Sales of real estate  benefiting from capital gains relief due to the fact  that the asset has been held for more than thirty years.
Please note : Civil servants et public officials seconded abroad  who are still French tax residents are note concerned by this.
The representative can be :
- A company or organization already permanently accredited with the French tax authorities
- A bank operating in France
- The purchaser of the real estate asset provided he is a tax resident in France,
- Any other person who is a tax resident in France.
In that case, accreditation must be granted by the tax authorities prior to publication of the official act of sale. This  must be requested from  the following :
(L’Inspection de fiscalité immobilière du Centre des impôts du lieu de situation de l’immeuble )
Or, in the case of buildings situated in Paris
(La DFRIP  d’Ile de France  et du département de Paris , Gestion Fiscale, Centre Missions Foncières, 6 rue Paganini 75020 Paris téléphone : 01-53-27-42-78 )

How does one pay capital gains tax  ?

Capital gains tax is paid by the ‘notaire’ (notary public responsible for real estate transactions in France).
If you are in receipt of any other income in France upon which income tax is  due (as per your 2042 tax form) the amount of capital gains tax due  must be indicated on  the  2042 C tax form in the 3VZ cell. This ensures that it will be included in the computation of the tax revenue reference basis (realized capital gains as from January 1st 2011).

Which forms need to be completed ?

In the case of disposal of real estate assets or rights : tax form  2048 – IMM – SD
In the case of disposal of shares in companies : tax form 2048 – M - SD
Please note : tax forms can be downloaded on the internet site called www.impots.gouv.fr .
You can indicate the reference number of the  form requested ( rubrique ‘ recherche  de formulaires’)