In general, the tax system in France is determined by the votes of the French Parliament, which determine the types of taxes that can be levied and the tax rates that can be applied. Taxes are then collected by the central government, local governments and the Social Security Association (ASSO). All persons who are resident in France for tax purposes are subject to French tax, whether they are individuals or legal entities that either live in France or have only their domicile, principal residence, place of work or economic interests in France - they all will treated as taxable. In addition, a person who is a tax resident of France, regardless of nationality, is also taxable on their worldwide income.

There are different types of taxes in the country such as B. Production and import taxes, Value Added Tax or Value Added Tax which is a consumption tax applicable to goods and services located in France, Taxes on petroleum products, Taxes on wealth including local property taxes on real estate, Capital gains taxes applicable on disposal of assets are payable, taxes on the sale of buildings (in addition to local taxes), inheritance, gift, transfer of business and registration of vehicles (total tax should not exceed 75% of income), as well as inheritance and gift taxes applicable to gifts and inheritances attack.

Income taxation in France
Income taxes in France include corporation tax, income tax for individuals, tax for social purposes, which is a tax calculated on all income available to individuals in a year and subject to industrial and commercial profits, land income, non-industrial and agricultural profits, salaries /wages, pensions/pensions, movable income, capital gains. These taxes are usually payable the year after the income is earned, by filing a French tax return showing all taxable income. The declaration should be submitted within the regular filing deadline.

Income tax
Applies to all income generated during a single business activity in the country. However, taxpayers whose personal net income does not exceed €7,920 are exempt from income tax. It is calculated from the total income of the household, which is divided equally among all household members.

Corporate tax
This type includes the annual tax levied on corporations and other commercial entities and can be levied on around 1/3 of French companies at a standard rate of 33.3%, generally based on the company's turnover.

Capital Gains Tax
Capital gains tax must be paid on the sale of land, buildings and shares. It includes 19% capital gains tax and 15.5% social security contributions, for a total of 34.5%. In addition, there is also a surcharge tax on large winnings. It includes 5 different French tax rates depending on the amount of profit made.

Residence tax
This tax applies to all buildings that have extras such as gardens, garages, private parking, etc. and must be paid by each person who has a housing unit.

Property tax
The property tax on developed land is levied on real estate built in France. Taxable real estate includes all permanent structures, i.e. buildings (apartment blocks, houses, workshops, warehouses, etc.). The tax base is equal to 50% of the notional rental value of the building (i.e. the value as determined by the tax authorities) and the land/site value. There are many exemptions and exceptions. In 2005, the product amounted to €17.73 billion.

Professional tax
This tax affects self-employed people in France, the amount of which is calculated by multiplying the net taxable amount by the rates approved by each local beneficiary (municipalities and organizations), within the limits established by national legislation.

Private banking is a range of financial and banking services provided by a bank or other financial institution, usually to affluent customers - also known as high net worth individuals. Unlike traditional checking accounts, a personal bank account is traditionally opened with the expectation that the bank will hold the money for you. If you are looking for a secure and reputable bank for wealth management or other private banking services, the Confidus team can help you find the most efficient solution for all your needs.

Opening a private bank account requires a certain amount of paperwork and a process to go through. While the main requirement for opening a private bank account is depositing a certain amount of cash, there are cases where applicants are denied opening a private bank account for other reasons. Each year, around 5% of applications are denied due to suspected fraud or illegal activity.