Chapter III: Other duties and taxes

Legal entities: legal persons, bodies, trusts or comparable institutions which, directly or through an interposed entity, own one or more properties located in France or are holders of real rights relating to these properties are liable for an annual tax equal to 3% of the market value of these properties or rights. For the purposes of the application of this article, any legal entity that holds an interest, in whatever…

The tax provided for in article 990 D is not applicable: 1° To international organisations, sovereign States, their political and territorial subdivisions, and to legal persons, bodies, trusts or comparable institutions that they majority control; 2° To legal entities: legal persons, bodies, trusts or comparable institutions, a) Whose real estate assets, within the meaning of Article 990 D, located in France, represent less than 50% of the French assets held…

The tax is due on the property or property rights owned on 1st January of the tax year, with the exception of property duly entered in the inventories of legal entities operating as property dealers or developer-builders. Where there is a chain of holdings, the tax is payable by the legal entity or entities which, in this chain, are closest to the property or property rights and which are not…

The tax provided for in Article 990 D is not deductible when calculating income tax or corporation tax.