After a period of 18 months which saw no less than 11 budgets being voted, France was "in need of fiscal stability" according to socialist Budget Minister Jérôme Cahuzac.

Jérôme Cahuzac is no longer in office, public deficit is at a record level and it is in the form of three Bulletins Officiels des Finances Publiques - BOFIPs of August 2, 2013 that taxation of capital gains has been amended once again during the parliamentary recess.

Patrick Delas, Solicitor in the French team, writes for Tax Notes International on the changes in the taxation of capital gains as from September 1st.

The new real estate capital gains tax regime - Tax notes international - August 2013.pdf