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Why Grant Thornton
Whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, our firms can help.
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Culture and experience
Grant Thornton’s culture is one of our most valuable assets and has steered us in the right direction for more than 100 years.
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Global scale and capability
Beyond global scale, we embrace what makes each market unique, local understanding on a global scale.
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Join our network
In a world that wants more options for high quality services, we differentiate in the market to grow sustainably in today’s rapidly changing environment.
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Leadership governance and quality
Grant Thornton International Ltd acts as the coordinating entity for member firms in the network with a focus on areas such as strategy, risk, quality monitoring and brand.
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Africa
24 member firms supporting your business.
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Americas
31 member firms, covering 44 markets and over 20,000 people.
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Asia-Pacific
19 member firms with nearly 25,000 people to support you.
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Europe
53 member firms supporting your business.
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Middle East
8 member firms supporting your business.
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Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Forensic services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Mergers and acquisitions
We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer-term strategic goals.
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Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery.
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Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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IFRS
At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
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Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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Global audit technology
Our global assurance technology platform provides the ability to conduct client acceptance, consultations and all assurance and other attestation engagements.
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Africa tax desk
A differentiating solution adapted to the context of your investments in Africa.
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Banking Holding banking to account: the real diversity and inclusion pictureWe explore how the banking sector can continue to attract, retain and nurture women to build a more diverse and inclusive future.
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Sustainability From voluntary to mandatory ESG: How banks can future-proof their operationsAs we move from voluntary ESG initiatives to mandatory legislation, we explore what the banking sector needs to prioritise.
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IFRS IFRS 9 - Audit of Expected Credit LossesGPPC releases The Auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9
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growthiQ Steering your company to long-term successHistory has something important to tell us about the difficulties of steering a business to long-term success – through seismic shifts in technology, consumer demands and product development. With that in mind it’s unsurprising that over half the world’s largest companies in the early 1900s had shut their doors by the late 1990s. Some, however, have endured.
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International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’The auditor’s response to the risks of material misstatement arising from estimates made in applying IFRS 17 ‘Insurance Contracts’
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IFRS Get ready for IFRS 17After twenty years of development the IASB has published IFRS 17 ‘Insurance Contracts’, find out more.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Not for profit Mission: possible – putting impact at the heart of charityGlobal charitable continues to decline and charity leaders are increasingly looking at their own unique impact journey.
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Access to finance Raise finance to invest in changePrepare your business to raise finance to invest in change.
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Private equity firms Private equity in the mid-market: reshaping strategies for 2021When the global COVID-19 pandemic stormed across the globe in early 2020, the private equity sector was hit hard but deals are coming back to the market.
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Mid-market businesses Getting ready for private equity investmentOur specialists explore how private equity firms are now working with their portfolios and how the mid-market can benefit from investment.
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Mid-market businesses Myth-busting private equityNervous about partnering with Private Equity? We explore some of the common myths we come across when speaking to mid-market businesses about PE investment.
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Public sector Helping build the government of tomorrow, todayLearn about the Grant Thornton US public sector team.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Retail How retail is positioning for successCOVID-19 provided some hard lessons for the retail industry. It is time to turn those into sustainable and well executed growth strategies in 2021.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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Technology Mid-market tech companies lead the way on diversity and inclusionWe explore how the mid-market tech sector can continue to build and nurture a culture that’s increasingly more diverse and inclusive for women.
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Technology Responding to slowing growth: why the tech industry faces a more challenging outlook in 2022We spoke to tech experts about industry trends that could affect companies over the next 12 months and what their short-term strategic priorities should be.
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Tax Resetting global tax rules after the pandemicBusinesses are seeing rising challenges, and finance heads are dealing with a range of new measures. To say the next 12 months are critical for businesses is an understatement.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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TMT TMT industry: Fully charged or on standby?Our research revealed five key trends that resonated with Technology, Media and Telecoms (TMT) industry leaders around the world. We asked a panel of our experts from UK, US, India Ireland and Germany, to give us their reaction to the findings.
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Cybersecurity One size fits nothingTechnology companies must adopt a new approach to digital risk: those that successfully develop a reputation for digital trust by demonstrating an unwavering commitment to cyber security and data privacy will be able to carve out a competitive advantage.
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Technology, media & telecommunications Why it’s time for a 5G reality checkFigures suggest the mobile sector is maturing. While data usage continues to soar, mobile revenues are expected to flatten out over the next few years.
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International business Mid-market businesses lifted by rising tide of optimismOptimism among global mid-market business leaders rose to 67% in the first half of this year and they are markedly more optimistic about their prospects with global optimism having increased by 8%.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Hotels COVID-19: Checking in with the hotel industry one year onCOVID-19 provided some hard lessons for the hotel sector. It is time to turn those into sustainable and well executed growth strategies.
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
- By topic
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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COP28: Mid-market firms should seize the opportunity from adaption and innovation
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Scanning the horizon: Mid-market sets sights on global trade growth
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Mid-market businesses less optimistic, despite record numbers expecting increased profitability
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Women in tech: A pathway to gender balance in top tech roles
Grant Thornton’s 2024 Women in Business data suggests we are far from achieving parity within the mid-market technology sector.
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Women in leadership: a pathway to better performance
What makes the benefits of gender parity compelling is the impact it can have on commercial performance.
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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Women in business: Regional picture
We saw an increase in the percentage of senior management roles held by women, on a global level, but there are some significant regional and country variations.
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Pathways to Parity: Leading the way
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Generating real change with a long-term focus
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COP28: Mid-market firms should seize the opportunity from adaption and innovation
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Transition Plan Taskforce publishes its final disclosure framework
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Promoting ESG excellence through tax
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International business: Mid-market growth and expansion
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Top five constraints to international business in the mid-market
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Evolving supply chains and trade patterns amid ongoing global uncertainty.
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IFRS Alerts
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
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Example Financial Statements
General guidance for preparers of financial statements that supports the commitment to high quality, consistent application of IFRS.
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Insights into IFRS 2
Insights into IFRS 2 summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
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IFRS 3
Mergers and acquisitions are becoming more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions.
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IFRS 8
Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas.
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IFRS 16
Are you ready for IFRS 16? This series of insights will help you prepare.
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IAS 36
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IFRS 17
Explaining the key features of the Standard and providing insights into its application and impact.
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Pillar 2
Key updates and support for the global implementation of Pillar 2.
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Global expatriate tax guide
Growing businesses that send their greatest assets – their people – overseas to work can face certain tax burdens, our global guide highlights the common tax rates and issues.
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International indirect tax guide
Navigating the global VAT, GST and sales tax landscape.
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Global transfer pricing guide
Helping you easily find everything you need to know about the rules and regulations regarding transfer pricing and Country by Country reporting for every country you do business with.
Expatriates taking up employment in France will be subject to comprehensive rules. Grant Thornton Société d’Avocats can help expatriates and their employers in dealing with the French labour and social security issues.
In particular Grant Thornton Société d’Avocats can assist expatriates and their employers in identifying French tax planning opportunities, reviewing tax equalisation policies and providing compliance services regarding the French tax filing requirements.
Click on each of the areas below to expand for more information:
The employers of non-EU nationals are usually required to apply for a work permit prior to the employee taking up employment in France. It is, therefore, important that the expatriate’s employment contract and benefit package is structured tax efficiently before the contract is submitted to the Department of Trade and Employment in France. A posting of the workers declaration must also be sent to the work inspectorate.
Under the work permit procedure, the employer will be required to advertise the position in France and the EU before the Department of Trade and Employment will consider issuing a work permit to a non-EU national if a suitable candidate cannot be found.
A residence visa must also be obtained for the expatriate to live in France. Where the expatriate’s spouse and family relocate to France, relevant visas and a separate work permit (where the spouse will also work) will be required. Where the expatriate is an EU national the above procedure is usually not required.
The French tax year runs from 1 January to 31 December.
Individuals who are French residents for tax purposes must file their tax return before mid-May or the beginning of June for online filing when available.
Non-French residents for tax purposes must file before mid-May.
Payment of the French tax is based on a « Pay-as-you-earn » tax system. It is mandatory to report bank details for a SEPA bank account when filing the annual tax return. Income tax is withheld directly from payslips for wages.
However, monthly or quarterly (upon option) instalments are withheld directly from the taxpayer bank account for other income, such as rental income, and self-employed income.
The global taxable income is divided within the household in a number of equal parts (e.g. one part for a single person, two parts for a married couple, 0.5 part for each of the first two dependent children, one part from the third child). Then, the progressive tax scale is applied on the taxable income per part obtained. Lastly, the partial tax is multiplied by the number of parts, determining the payable gross tax.
Please note that progressive income rates apply subject to specific rates detailed below.
For employees, the relevant tax rate will be communicated by the tax authorities to employers on a monthly basis in order to withhold income tax on payslips.
The taxpayer may choose to keep his/her rate confidential. In this case, no communication of actual rate will be made by the tax authorities to the employer, and a neutral rate will be applied to the net taxable salary. Please note that the neutral rate is a rate computed based on the situation of a single taxpayer with only professional income.
Finally, a couple may choose to individualize their tax rate. It basically means that each taxpayer will be applied a rate proportional to his/her income rather that the rate of the household.
Portion of taxable income for one part (€) | Rate (%) |
Up to 11,294 | 0 |
From 11,294 to 28,797 | 11 |
From 28,797 to 82,341 | 30 |
From 82,341 to 177,106 | 41 |
Above 177,106 | 45 |
Exceptional contribution on high income (based on the reference tax income) | Single taxpayers % | Couples % |
From €250,001 to €500,000 | 3 | 0 |
From €500,001 to €1,000,000 | 4 | 3 |
Above €1,000,000 | 4 | 4 |
The above tax rate are the latest rates available. They apply to income received in year 2023.
Sample income tax calculation (for a single taxpayer)
Employment Income: | € |
Net salary | 60,000 |
Net car benefit (mileage driven during year | 5,250 |
Net car fuel benefit | 2,850 |
Total taxable income | 68,100 |
Less allowance of 10% for expenses | (6,810) |
Net taxable salary | 61,290 |
Personal income | |
Dividend from French company | 3,000 |
French bank interest | 500 |
Net taxable income liable to progressive rate | 61,290 |
Net taxable income for flat rate (12.8%) | 3,500 |
Income tax thereon: (28,797 - 11,294) @ 11% | 1,925 |
(61,290-28,797) @ 30% | 9,748 |
Flat tax rate on investment income @ 12.8% | 448 |
Total tax | 12,121 |
Less: Allowance of 50% for household employee | (3,500) |
Residual liability | 8,621 |
Social contributions (3500 @ 17.2%) | 602 |
Total | 9,223 |
A charge to French tax is dependent on whether the income arises in France. The extent of the charge will be determined by an individual’s tax residency status.
Taxation of individuals in France is determined by their residency or the source of their earnings. Persons are resident in France for French tax purposes if:
- they have their home or permanent place of abode in France
- they carry on a professional activity in France unless this activity is carried out incidentally
- they have the centre of their economic interests in France.
French residents are taxed on their worldwide income and gains. Non-residents are only taxed on their French source income and gains.
A French tax charge arises on employment income derived from duties performed in France. Assessable employment income includes all wages, salaries, overtime pay, bonuses, gratuities, perquisites, and benefits etc.
As mentioned above, where duties are performed in France, any remuneration received in respect of these duties is treated as French sourced income and, therefore, is subject to French income tax regardless of the expatriate’s tax residence status (subject to a relevant double taxation treaty).
In general, where the benefit is enjoyed in France, a French income tax charge will arise. Therefore, housing, meal allowances, provision of a car and relocation allowances will come within the charge to French income tax in addition to the individual’s salary.
A tax exemption on the allowances paid to employees seconded to France, workdays spent out of France and 50% of foreign source passive income has been implemented under specific conditions.
Where income has been subject to double taxation (in France and a foreign jurisdiction) relief can be granted where provided for in the relevant double taxation treaty.
France grants a wide range of tax deductions.
French resident taxpayers are entitled to deduct a 10% personal allowance on salaries and pensions for deemed expenses – capped to €14,171 in 2023. They may also be entitled to the following as allowances: child tax credit, education, sitter, alimony, employment of a household employee, gifts in favour of specific organisations and tax credit for the acquisition of certain real estate.
Some non-resident individuals may also be entitled to allowances to offset against French source taxable income.
Tax on capital gains on shares
Capital gains on shares are taxable at the flat 12.8% rate applicable to the investment income.
Alternatively, the taxpayer may opt for the application of the progressive tax rate for the taxation of capital gains. The former tax rebates are applicable only to shares acquired prior to 1 January 2018. These rebates apply at a 50% rate after the 2nd year of ownership, and 65% after the 8th year of ownership. An incentive regime entitles taxpayers to benefit from better rebates for length of ownership that can apply at a 50% rate after the 1st year, 65% after the 4th year and up to 85% after the 8th year, subject to conditions.
The option for the application of the progressive rate is “global” meaning that it applies to all investment income taxable in the same year.
Tax on capital gains on real estate
For calculating the taxable capital gain, a tax allowance per year of ownership is available after the fifth year of ownership, which grants a tax exemption from capital gains after 22 years of ownership and social contributions exemption after 30 years of ownership.
This tax rebate is computed differently for income tax and social taxes.
For income tax:
Length of ownership | Tax rebate applicable / year |
0 to 5 years | 0% |
6 to 21 years | 6% |
22 years | 4% |
After 22 years | Exemption |
For social tax:
Length of ownership | Tax rebate applicable / year |
0 to 5 years | 0% |
6 to 21 years | 1.65% |
22 years | 1.60% |
23 and more | 9% |
After 30 | Exemption |
Some exemptions are available for main residence.
A flat tax rate of 19% applies for the capital gains realised on real estate by individuals, resident or non-resident. Some exemptions do exist.
A surtax varying between 2% and 6% of the net taxable gain applies if it exceeds €50,000.
A liability to French inheritance and gift tax depends not only on the French tax residency status of the deceased/donor and of the beneficiary, but also on the location of real estate and assets when the deceased/donor is not a resident in France. The rates vary depending on the degree of kinship between the deceased/donor and the beneficiary.
The expatriate’s French tax residency status will determine whether investment income such as interest, dividends etc., will become liable to French income tax.
Interests and dividends are liable to 'flat tax' (12.8% of income tax + 17.2 % of social taxes). Alternatively, the taxpayer may opt for the application of progressive rate for this investment. As mentioned above for capital gains, this option applies globally for every investment income and capital gains on shares.
There are local taxes (occupancy tax, property tax on built properties, or non-built properties) to which an individual is liable in France.
The occupancy tax is progressively cancelled and should not be payable on main residence as from 2023.
See 'capital gain tax' above for taxation of gain upon selling.
Real estate is also subject to annual property tax, usually paid in October - depending on the value of the property and a rate set by regional authorities.
Social security as of 1 January 2022
‘National insurance contributions’
Executive (not contracted out) | Employee | Employer |
Health, maternity, disability, death | - | 13% or 7% total earnings |
Autonomy solidarity contribution (Contribution solidarité autonomie/ CSA) | - | 0.3% (total earnings) |
Old-age insurance (with upper limit) | 6.9% (€3,666) |
8.55% (€3,666) |
Old-age insurance | 0.4% (total earnings) |
1.9% (total earnings) |
Accidents at work (varies based on company size and risks) | - | variable based on company size and risks (total earnings) |
Family benefits | - | 5.25% or 3.45% (total earnings) |
Social security surcharge (Contribution sociale généralisée / CSG) | 9.2% (98.25% of gross salary) |
- |
Social security debt reimbursement contribution (Contribution pour le remboursement de la dette sociale / CRDS) | 0.5% (98.25% of gross salary) |
- |
Unemployment | - | 4.05% (€14,664) |
AGS | - | 0.15% (€14,664) |
Supplementary pensions (Agirc-Arrco scheme) | ||
Bracket 1 | 3.15% (€3,666) |
4.72% (€3,666) |
CEG (Overall balance contribution) | 0.86% (€3,666) |
1.29% (€3,666) |
Bracket 2 | 8.64% (from €3,666 to €29,328) |
12.95% (from €3,666 to €29,328) |
CEG | 1.08% (from €3,666 to €29,328) |
1.62% (from €3,666 to €29,328) |
Also:
• non-executive
• self employed
• unemployed.
Specific social levies
French residents are also subject to 17.2% social contributions on their investment income (eg rental income, capital gains, as well as on their fixed interests’ securities and dividends) including:
- 9.2 % contribution (called CSG)
- 0.5% contribution (called CRDS)
- 7.5% social levies (« prélèvement de solidarité »).
Part of the CSG (6.8%) is deductible from the taxable income the year after payment of the contribution.
Non-residents are also subject to social contributions at a 17.2% rate on their rental income and real estate capital gains. Non-residents affiliated to another statutory social security system in one of the EEA countries (UE and Island, Norway and Liechtenstein), in the United-Kingdom or in Switzerland only are subject to the 7.5% social levies (« prélèvement de solidarité »).
There are two different tax regimes depending on whether or not the stock options or free shares (RSU) plans qualify under French commercial law.
If the plan does not qualify, the exercise/vesting gain is taxed as standard salary in the exercise/vesting year.
Stock options/Free shares plans which qualify benefit from a favourable tax regime, whose conditions will vary depending on the grant date. One of the main differences for employees from a cash flow perspective is that under a qualified plan, taxation of the gain is deferred at sale.
Stock options
For stock options granted before 28 September 2012:
- exercise gain is taxed at a flat rate of 18%, 30% or 41% of the profit deriving from the exercise of option (difference between exercise price and market value at the date of exercise)
Stock options granted as from 28 September 2012 are taxed as salary and thus liable to progressive tax rate.
For options granted as from 16 October 2007, an employee special social security contribution applies.
Tax is levied at the time of the sale of shares except the employer special social security contribution.
Gain at sale is treated as standard capital gains on shares.
Free shares (RSU)
Free shares granted as of 28 September 2012 and before August 8th, 2015 are taxed as salary and thus subject to progressive tax rate.
Free shares granted as of 8 August 2015 and until 30 December 2016 are taxed as part of the taxable income at progressive income tax rates and liable to social taxes attributable to capital.
Free shares granted as of 31 December 2016 and until 31 December 2017 are taxed as follows:
- gain up to €300,000 is taxed at progressive rates after application of rebate for length of ownership
- gain above this ceiling is taxed as salary without benefiting from any tax rebates.
Free shares granted as from 1 January 2018 are taxed as follows:
- gain up to €300,000 is taxed at progressive rates after application of 50% tax rebate or a fixed tax rebate for company owner retiring.
- gain above this ceiling is taxed as salary without benefiting from any tax rebates.
Tax is levied at the time of the sale.
Gain at sale is treated as standard capital gains on shares.
A wealth tax based on real estate assets (Impôt sur la fortune immobilière) applies. French tax residents are taxable on their worldwide income (double taxation may be avoided through double tax treaties).
Fraction of net taxable value of assets (€) | Rates |
Up to 800,000 | 0% |
800,001-1,300,000 | 0.5% |
1,300,001-2,570,000 | 0.7% |
2,570,001-5,000,000 | 1% |
5,000,001-10,000,000 | 1.25% |
Above 10,000,000 | 1.5% |
There are no other specific taxes relating to expatriates in France.
Earnings description | Planning possible |
Base salary | Y |
Bonus | Y |
Cost of living allowance | Y |
Housing | Y |
Home leave | Y |
Club membership | N |
Moving expenses | Y |
Foreign service premiums | Y |
Education/schooling | Y |
For further information on expatriate tax services in France please contact:
Anne Frede
E afrede@avocats-gt.com