I: Property income

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,…

I. – Property expenses deductible in determining net income include: 1° For urban properties: a) Repair and maintenance expenses actually borne by the owner; a bis) Insurance premiums; a ter) The amount of expenses borne on behalf of the tenant by the owner for which the latter has been unable to obtain reimbursement, as at 31 December of the year in which the tenant left; a quater) The provisions for…

When a listed or registered historic monument, whether built or unbuilt, is the subject of a long lease for a period of at least eighteen years, the lessee is taxed as the owner on the income received, after taking into account the expenses incurred. This income is taxed under the income from property regime, unless the owner is a natural or legal person covered by the industrial and commercial profits…