It has been reported, in the Financial Times, that France has abandoned plans to introduce an annual tax on second homes owned by non-residents. Good news for Brits with homes in France. The French government has abandoned its plans to introduce an annual tax on second homes owned by non-residents, a move that would have seen around 360,000 holiday homeowners pay out up to several thousands in euros each year.
Last month, the French government proposed to introduce a new tax on non-residents who own a holiday home in France that they do not rent out as a long-term let. The government estimated that the total revenue from this tax would have been EURO 176 million a year, with the money used to fund proposed reform of the French wealth tax system.
However, after facing opposition from a group of senators representing French nationals living abroad, the government confirmed it was abandoning the proposal, as the new tax would have been incomprehensible to overseas French nationals.