Wednesday, 9 November 2011

Declare the income tax: must complete the tax return?

Every year it's the same story, complete the statement of income taxes. Tedious task for most of us, even an ordeal for some, the statement of taxes is still required.

Tedious task for most of us, even an ordeal for some, the statement of taxes is still required. Between the incomes of wages, property income, those from shares of real estate company, deductions, reductions or tax credits, there is something to lose. Some would therefore lead to the conclusion not to complete the declaration and be forgotten by the tax authorities. Absolutely not! You must complete the declaration.

But in fact, must complete the statement of income taxes?

-All persons resident in France, whatever their nationality, must complete the tax return, provided that their tax home is in France. This requires that taxpayers stay at least 183 days per year in France.

-All persons exercising a professional activity in France, employed or not, that is regular and effective. Self-employed persons must have a fixed home base in France.

-All persons who have economic interests in France, investments or property.

-The officials or agents of the French state who practice a profession abroad. If these people are not taxed in the country where they are in employment, they must complete the declaration of income tax even if they do not live in France.

-Some people who are not resident in France are also subject to the reporting of income taxes. These are people with at least one residence in France or other persons with incomes of French origin. People who have one or more residences in France are taxed a flat rate equal to three times the rental value of homes or on their income or of French origin. Those who have no residence in France are taxed on their income of French origin.

Very important: People who touch the Revenu Minimum d'Insertion (RMI) or those with no income could dispense with the declaration of taxes. But it is advisable to fill in order to have a notice of non-taxation. This notice will allow them to obtain some benefit or welfare of the premium for Employment.

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