Selling a property in France

[damester]

Hi, I was wondering if anyone could help me in the tax implications of selling a property in France. I bought the property in Perpignan in 2004 and now wish to sell. What are the GCT implications and is there any other laws which I could get hit with.

Also has any made french income tax returns and how did they overcome the language barrier?

 

[Zulu]

In most cases, upon disposal of a foreign property you will have paid CGT in the foreign jurisdiction. Therefore, depending on whether a double tax agreement exists between Ireland and the relevant country, you should be entitled to a tax credit in Ireland for any foreign tax paid on the gain.
A notable exception – France: There is currently no article on CGT included in the Ireland/France double tax agreement. This could therefore result in the disposal of a French property being taxed twice i.e. in France at a rate of 16% and in Ireland at a rate of 20%.

Note: As the Ireland/France treaty is expected to be revised it may be possible to apply to Revenue for relief from this potential double hit on a concessionary basis. Detailed advice should be sought prior to sale.