French CGT

[Winnie]

Hi,

planning to sell house in France & was trying to research CGT on revenue website..............
My understanding is that there is a Ireland/France double tax treaty but this only extends to CT & income tax.
In that case, CGT would be paid in France & then CGT again paid on the net amount in Ireland - this is very surprising to me considering the amount of people investing over there?
Have I gotten it wrong?

 

[ClubMan]

You really need independent, professional advice from somebody with a knowledge of the tax codes in both jurisdictions in this case.

 

[asdfg]

Have I gotten it wrong?

No

All investors in property expecially foreign should make themsevles aware of all the tax implications especially foreign taxes.
For what its worth afaia the treaty is currently under negiotations (has been for some time now). You should consider holding off selling until this is completed.

 

[jpd]

That's the way it is no. You might get credit here for CGT paid in France but it isn't definite. You need to query this with the Revenue and/or a tax advisor.

The Double taxation Treay is being re-negotiated but there is no indication of what will be in it nor when it will be finished, ratified and brought into use.

For info, if you keep the property in France for 15 years, it will be free of CGT in France - you get 10% relief per year each year from year 6 of ownership. (Sorry, that doesn't seem very clear)