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Capital Gains of Property in France
Capital gains Tax (CGT) on the sale of a property in France for any house which is not a principal home starts at 16 percent up to 33 percent for non-EEC residents. It reduces by 10 percent a year after the fith year of ownership and can be zero after 15 full years of ownership. The costs of purchase and any major building or alterations can be deducted from the capital gains only if these are done by approved, certified French registered builders against validated and approved invoices. The Notaire involved in the sale of a property is legally responsible for investigating and approving all these bills. |
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