Real estate wealth tax (ifi): a new reality for non-residents?
The new real estate wealth tax (IFI), which replaces the wealth tax (ISF) will be applicable for the first time in 2018 for residents and non-residents who own net real estate assets above €1.3 million as of January 1, 2018.
For non-residents, they must declare the IFI for the first time by May 17, 2018, for a paper declaration, or by May 22, 2018, for an Internet declaration.
The re-centering of the IFI on real estate assets does not make everyone happy.Indeed, given the definition of real estate assets subject to the IFI, certain non-residents who did not owe the ISF may now owe it as of January 1, 2018.
For the first IFI declaration to be made in May 2018, non-residents must analyze in detail the composition of their real estate assets located in France to verify the impact of the IFI’s enactment.