Patrick Delas writes for the October 2012 edition of the European Tax Service. Decree n° 2012-1050 of September 14, 2012 published on September 15, 2012 finally details the reporting obligations applicable to trustees introduced by LFR 2011-900 of July 29, 2011.
The Decree, by adding three articles to Annexe III of CGI (''French Tax Code''), confirms two separate reporting obligations. The first one is for the information of the French Revenue whenever settlors, beneficiaries or trust assets are situated in France. The second one is for the assessment and payment of the 0.50 percent pre´le'vement of Article 900 J CGI with reference to Wealth tax (ISF).