2: Income from bonds

For the purposes of the present provisions, the following shall be deemed to be income: 1° Interest, arrears and any other proceeds from bonds, participating securities, public bills and any other negotiable debt securities issued by the French State, departments, communes and public establishments, associations of any kind and any French financial, industrial, commercial or civil companies, corporations and enterprises; 2° Redemption lots and premiums paid to holders of the…

Income is determined: 1° For bonds, participating securities, public bills and loans, by the interest or income distributed during the year; 2° For lots, by the amount of the lot itself; 3° For redemption premiums, by the difference between the sum redeemed and the issue rate of the loans. A decree (1) shall determine the issue rate to be used to calculate the tax on these premiums. (1) Annex III,…