In line with their previous releases. On France 2, the Minister of Budget, Laurent Saint-Martin, declared himself “totally unfavorable” to an increase in taxes on life insurance. In the Finance Committee, deputies approved last Thursday an amendment aimed at increasing the taxation of inheritance tax on life insurance.
This modification refers mainly to the inheritance benefits of life insurance contracts whose subscribers have made payments before turning 70 years of age.
The amendment voted on October 17 aims to subject life insurance contracts paid before age 70 to inheritance tax. Thus, the same rates would apply as for direct line inheritances (son, grandson or parent).
A new local tax is not created
“We have several tens of millions of contracts in our country,” said the Budget Minister. “Life insurance is often the best savings for our fellow citizens.”
Laurent Saint-Martin recalled that he was also against any increase in taxes on “inheritance”, on the added value of the “transmission of a main residence”.
Asked about the proposal of several local elected officials to create a new local tax, the minister also responded negatively. “I belong to a political family that abolished the housing tax. This is 20 billion euros of purchasing power returned to our fellow citizens,” he said. “The communities are right to question the issue of taxation,” admitted the minister, who, however, considered that this should not “necessarily” “require the creation of a new tax.”
Source: BFM TV
