This briefing looks at the unexpected amendment to the supplementary budget for 2012 that has been adopted on first reading by the Assemblée Nationale.

The measure would consist of an increased taxation of the so-called "high capital gains" which refers to the sale of second homes. This would be applicable from 1st January 2013.

Patrick Delas of our French Law Team explains.

Increase of capital gains tax voted by the Assemblee Nationale - December 2012.pdf