Gift tax in Corsica
Use cases, calculation and double taxation
Everything you need to know about gift tax in Corsica
General regulations on gift tax
French gift tax uses a progressive system that is linked to the value of the net assets transferred. This means that only the value of the gift received is taken into account, not the total assets of the donor.
Taxation is as follows:
- Up to € 8,072 = 5 %
- 8.072 € – 12.109 € = 10 %
- 12.109 € – 15.932 € = 15 %
- 15,932 € to 552,324 € = 20%
- 552,325 € to 902,838 € = 30 %
- 902,838 € to 1,805,677 € = 40 %
- From € 1,805,677 = 45 %
General allowances
The tax-free amounts depend on the relationship between the heir and the deceased. The allowances are as follows:
- Children and their descendants €100,000
- For siblings € 15,932
- For nephews or nieces € 7,967
- Any other person €1,594
Spouses are completely exempt from inheritance tax. There are also other exemptions linked to French civil servant status or certain assets.
It is also important to note the tax relief on the inheritance of companies or shareholder shares. These can be exempt from tax by up to 75% if the beneficiary also assumes the obligations arising from the inheritance.
German gift tax
If the donor or the donee was resident in France for tax purposes, or if the asset was located in France, German gift tax may be payable in addition to French gift tax. In such cases, double taxation can often be avoided or mitigated by offsetting.
CPA Nyikolaj Szmolenkov M.A.
Your specialist for tax law
Tel.: +49 (0)172 / 712 0558
Settling an estate in Corsica can be complex and demanding. There are a number of legal and administrative hurdles that need to be overcome. We can help you further.
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Your specialist for tax law
CPA Nyikolaj Szmolenkov M.A.
- Tax consultant
- Company valuations
- Preparation of inheritance and gift tax returns
- Cooperation partner of the law firm
- Office location: Augsburg
- Area: Paris
- Tel.: +49 (0)172 / 712 0558