Tax Alert

French wealth tax on Properties (IFI)

The famous French wealth tax (Impôt sur la Fortune—ISF) previously assessed on all net assets owned by an individual when his net wealth exceeded a certain threshold (€1,3 million) has been repealed and replaced, as from 1 January 2018, by a new real estate wealth tax (Impôt sur la Fortune Immobilière—IFI).

This tax will be assessed only on the net real estate assets owned by an individual to the extent that the value of his real estate assets exceeds the threshold of €1,3 million. What are the new taxable real estate assets as non French resident?