Zacktly!! Although it looks like I beat you by 500 ms!
All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work. — Calvin Coolidge
"Under Barack Obama, the only 'change' is that 'hope' is hard to find" - Marco Rubio
French tax residents who transfer their tax residences abroad after having been French tax residents for at least six years at the time of the transfer, will be subject to a new exit tax. The taxable basis will be the unrealized capital gain as valued on the day preceding the date of departure.
Individuals will be liable for the tax if they hold, alone or with family members, directly or indirectly, at least 1 percent of financial rights in a company subject to corporate tax or similar taxation (implying that the exit tax will be due even if the company is not French), or if the value of the shareholding exceeds €1.3 million at the date of the transfer.
The taxable event will be the date of departure and not the date of sale. This is aimed at allowing France to tax the gain even if the individual has moved to a country that has signed a tax treaty with France which provides that capital gains arising on the sale of securities are taxed only in the country of residence.
The tax will be set aside until the shares are sold if the taxpayer moves to another EU member state, and will not be due if the shares are sold after eight years following the transfer to another country. This provision is aimed at circumventing a possible challenge of the exit tax by the European Court of Justice as being contrary to the principle of the free movement of people within the EU – this has happened in the past (when the tax was to be paid upon departure).
If individuals transfer their tax residence to a non-EU country, the tax will be due unless a guarantee2 covering the unrealized capital gain tax is given to the French Treasury.
The tax will not be due when the move is motivated by professional reasons, if certain conditions are met.
The legislation provides that the exit tax would enter into force retroactively on 3 March 2011, even if the bill is adopted by Parliament by mid-July 2011.
You might be able to run off with your capital but not tax free!
If I appear to be ignoring your posts, it's probably because you are on my ignore list.
wow Muslim hater or non Muslim hater , tough call ROFL at the 7% who voted against themselves
Last edited by new33; 05-08-2012 at 08:32 PM..
Reason: Automerged Doublepost
this is how you can tell if your addicted to SlickDeals by afsammie
I'm not exactly sure what I just ordered, but I think I'm pretty pleased about it if it's what it might be, but then again, I have no idea exactly what it is... but that's the nature of slickdeals.
Thanks OP! I think.
in europe people envy and mock the rich while in USA and Switzerland and hong kong see them as a necessary Asset to the economy.
Yes you may call hollande the president " a commie" its not a shame because that what is he.
thats the mindset of the french let the government to the job for us. sitting in coffee shops all day long getting lazy and stuff. and keep mocking free trade free enterprise. until all the rich will flee . they will remain with 11th century economy.! greens, commies, and socialists
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