This article discusses changes brought about by the 2011 French supplementary budget, Law n° 2011-900 of 29 July 2011 de finances rectificative pour 2011 (LFR 2011), which was passed by the French Parliament on July 6, 2011 and came into force from July 31, 2011. It contains substantial changes to wealth tax, gift and succession tax, the abolition of the fiscal shield and to the taxation of sociétés civile immobilière and life policies and the reintroduction of an exit tax. This article appeared on The Practical Law Company website in September 2011.

A new French worldwide tax regime for Trusts and Estates - Sep 2011.pdf