FRANCE TO TAX SEC­OND HOME OWN­ERS

Ekaruna - - News Round Up -

France is con­sid­er­ing a 20 per­cent tax hike on sec­ond home own­ers in­clud­ing for­eign­ers who own hol­i­day homes, ac­cord­ing to fi­nan­cial news­pa­per Les Echos. The daily said the 20 per­cent in­crease on the ex­ist­ing prop­erty tax for sec­ond homes would be ap­plied to 30 zones across the coun­try in­clud­ing Lyon, Mar­seille, Bordeaux, the Mediter­ranean and At­lantic coasts and Paris. In line with the gov­ern­ment’s plan to in­crease the avail­abil­ity of prop­er­ties in the mar­ket, the tax would only ap­ply to un­oc­cu­pied homes that have not been rented out, the news­pa­per re­ported. If ap­proved, the new tax would come into ef­fect on Jan­uary 1, 2015.

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