Article 12 of the French General Tax Code
November 8, 2023
The tax is due each year on the basis of the profits or income that the taxpayer makes or has at his disposal during the same year.
The tax is due each year on the basis of the profits or income that the taxpayer makes or has at his disposal during the same year.
1. The taxable profit or income consists of the excess of the gross proceeds, including the value of profits and benefits in kind, over the expenditure incurred in acquiring and maintaining the income. 2. The annual net overall income used as a basis for income tax is determined by totalling the net profits or income mentioned in I to VI of the 1st sub-section of this section as well as…
Subject to the provisions of Article 15, are included in the property income category, when they are not included in the profits of an industrial, commercial or craft business, a farm or a non-commercial profession : 1° Income from built properties, such as houses and factories, as well as income: a From the tools of industrial establishments attached to the land in perpetuity, under the conditions indicated in the first…
Income distributed by a real estate investment fund mentioned in article 239 nonies in respect of the fraction of income mentioned in 1° of article L. 214-51 of the Monetary and Financial Code, with the exception of the fraction relating to rental income from furnished property, relating to the assets mentioned in 1° and 2° of I of Article L. 214-36 of the same code, with the exception of furnishings,…
Items of income covered by this I that have been waived or relinquished by the lessor to the lessee company between 15 April 2020 and 31 December 2021 under the conditions and within the limits mentioned in 9° of 1 of article 39 do not constitute taxable income for the lessor. The application of this article does not prevent the deduction of expenses corresponding to income items that have been…
I. – (Repealed). II. – Income from dwellings where the owner reserves the use of the property is not subject to income tax. This exemption also applies to premises included in agricultural holdings and allocated to the dwellings of the owner-managers.
Income from housing let to their members by non-trading property companies for progressive home ownership operating in accordance with articles L. 443-6-2 to L. 443-6-13 of the construction and housing code are exempt from income tax.
Net property income is equal to the difference between the amount of gross income and total property expenses.
Subject to the provisions of articles 33 ter et 33 quater, the gross income from buildings or parts of buildings let is made up of the amount of gross revenue received by the owner, plus the amount of expenditure normally payable by the owner and charged to the tenants under the agreements. Subsidies and allowances intended to finance deductible expenses are included in gross income. No account is taken of…
Subject to the provisions of article 15-II, the gross income of buildings or parts of buildings which the owner reserves the right to use is made up of the amount of rent that they could produce if they were let. It is assessed by comparison with similar properties or parts of properties that are let on a normal basis, or, failing this, by direct assessment. It is increased, where applicable,…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
