Exit tax, act 2. Deputies approved on Monday the restoration of the “exit tax” (expatriation tax), as it existed from 2012 to 2019, within the framework of the first reading examination of the revenue part of the state budget.
This tax was created by Nicolas Sarkozy to stop tax evasion by businessmen, but clearly watered down by the Macronists.
The Assembly approved an amendment by Jean-Philippe Tanguy (RN) that returns to the original version, with the extreme right voting in favor, the right and the Macronists against and the left abstaining by a large majority. The measure should provide 70 million euros, according to the Minister of Public Accounts, Amélie de Montchalin.
Another notable measure approved on Monday morning: an amendment by Corentin Le Fur (LR) that seeks to reduce the holding period from 22 to 17 years giving the right to full exemption from the real estate capital gains tax applicable to second homes and other real estate not assigned to the main residence.
The deputies conclude this Monday eight days of debates on the revenue part of the state budget, with no hope of completing this first part in the scheduled time. The debates will resume from November 12 and until November 23 at the latest, the date on which the Government must transmit the text to the Senate due to constitutional deadlines. Meanwhile, they will debate the Social Security budget.
Source: BFM TV
