STAMP OUT STAMP DUTY

Living France - - Les Pratiques -

Stamp duty could soon be a thing of the past, if French pres­i­den­tial can­di­date François Fillon gets his way.

In a bid to be­come the next pres­i­dent of France, the Repub­li­can party can­di­date is propos­ing sig­nif­i­cant prop­erty-based tax re­duc­tions and a lib­er­al­i­sa­tion of the pri­vate hous­ing sec­tor.

A main ob­jec­tive of his man­i­festo that was pre­sented dur­ing the pri­mary elec­tions is to make the hous­ing sec­tor “fairer and more ef­fi­cient”, by giv­ing more free­dom and in­cen­tives to lo­cal author­i­ties, de­vel­op­ers and in­vestors, and by re­duc­ing reg­u­la­tions and taxes. A key pro­posal in achiev­ing this is the abo­li­tion of stamp duty on the sale of prop­erty.

Stamp duty is cur­rently at the rate of 5.9%. If Fillon’s pro­posal were to be im­ple­mented, the mea­sure would likely be in­tro­duced in stages. A timescale was not in­cluded in Fillon’s pol­icy state­ment.

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