-
Many small firms and self-employed in France soon obliged to issue digital invoices
One small business group has called for more support for the extra costs
-
Millions of taxpayers in France will soon need to supply extra information
Returns made this spring will ‘step up’ the information requested about regular at-home help
-
More drivers to pay higher pollution taxes on new car registrations in France
The thresholds for the ‘malus’ on CO² emissions are set to catch more vehicles over the next three years
Even 'old' foreign bank accounts need to be declared
Reader was fined by tax office for mistake over Australian bank account that is still open
A reader from Occitanie has contacted us to warn about the importance of declaring foreign bank accounts – after he was hit with a large fine for holding one in Australia opened before he and his wife moved to France several years ago.
“It came up because we had a tax check of our small business and a couple of times we had brought some inheritance money that was in the account over from Australia,” he said.
At first the couple were accused of money-laundering, but showed their bank statements and explained. “They accepted that but said they would fine us personally for non-declaration. We also had an English account that was mostly dormant. They charged us €1,500 per year, per account for the last three years – the period covered by the check.”
As we state in the annual Connexion guide to French income tax, anyone with a foreign account opened, closed or used during a tax year that ‘habitually receives’ cash, shares or other investments should declare its existence on their tax return – as well as declaring income from it. Failure to do so can result in fines and possibly having to pay missing tax, increased by interest.