French President Francois Hollande announced yesterday a new special allowance that is designed to reduce the French Capital Gains Tax and it is to be effective next year, 2014 (original article in French)
According to President Hollande French property home owners selling a secondary residence will no longer have to wait 30 years to be exempt from tax. His government will bring this period down to 22 years. He also promises a special extra allowance for 2014 but did not give details.
President Hollande’s goal is to restore movement to the French real estate market. The official announcement will be later this year.
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