Yesterday I shared news about how I navigate tax season in France, which is a very special time of the year. LOL 😉 💩 , But how MUCH does a French fiscal resident pay in taxes? If you would like to know how much you’d pay to live and work in France, read on…
Progressive Scale of Income Tax for Residents: 2021 Income (per a letter from my accountant) 💰
Income up to 10,084€ = 0%
Income from 10,085€ to 25,710€ = 11%
Income from 25,711€ to 73,516€ = 30%
Income from 73,517€ to 158,122€ = 41%
Income in excess of 158,122€ = 45%
For the Americans 🇺🇸 in this group, don’t forget that the double taxation treaty kicks in around 108,000$, or 89,628.66 Euro in today’s market.
There is an ADDITIONAL tax for high-income earners whose household revenues are above 250,000€ (between 3 and 4%).
Last but not least, since 1989, there has been a wealth tax in France called Impôt de solidarité sur la fortune (ISF). ISF is an annual progressive tax, with rates from 0.5% to 1.5%, and liability is triggered when your net personal wealth is greater than €1.3m (this includes your real estate!). 😬
What plans do you have for this weekend? Hopefully, it’s not tax returns! Ha!
Bisous and big hugs 🤗 from France,
Shannon
Camera 📷 credit goes to @allaryeditions
PLEASE NOTE: I am not a professional and cannot provide any advice on these matters. This post is strictly informative, educational, a documentation of my experiences, and for entertainment value only. Please contact a paid professional for additional information or inquiries.