Trusts vs Taxation

trust3 (2).jpgTrusts vs Taxation

 

First overview of draft legislation

 

 

France/ THE NEW TAX ON TRUST

 

LA NOUVELLE FISCALITE SUR LES TRUST 

 

OECD Forum 2011.The fight to restore trust 

OECD Tax Co-operation 2010

 

Professor Robert Anthony

www.antco.com

 

 

Patrick Michaud

www.etudes-fiscales-internationales.com

 

 

 

 

Taxation of the assets or the rights of a trust to wealth tax

and transfer taxes where there is no consideration

 

The article 6 of the finance bill rectified of 2011 aims at confirming and at covering the taxation of trusts and legal comparable foreign legal entities for transfer taxes where there is no consideration and wealth tax.

Thanks to the procedure of regularization of year 2009, the French administration was able to have a perfect knowledge of the schemes made a certain numbers of French residents to try to avoid taxes. They used this experience to prepare dissuasive texts.

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