Market Taxation Guide - France

02.09.2013

This Market Taxation Guide (France) provides the following details:

  • Reference information about all taxes applied at source, through Clearstream Banking and its local depositories, to securities deposited in Clearstream Banking; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

New and improved tax information and procedures that become available will be included on an ongoing basis.

Important note:

This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.

Withholding tax

For debt securities:

  • Bonds issued before 1 January 1987 are taxed at 15%.
  • Bonds issued before 1 January 1965 are taxed at 17%.

No relief at source or reclaim of withholding tax on French debt securities is available through Clearstream Banking

EquitiesHolding restriction?Withholding tax rateRelief at
source
Quick
refund
Standard
refund
No30% a
Residents of Double Taxation Treaty (DTT) countriesYesNoYes
EU/EEA-DTT resident individuals bYesNoNo
EU parent companies cYesNoYes
Non-Profit OrganisationsYesNoYes
Particular foreign entitiesYesNoYes
Foreign Collective Investment Vehicles (CIVs)YesNoNo

a. 19% on distributions from a Société de Capital Risque (SCR) for non-residents and under specific conditions. The simplified procedure is not available for such distributions but a standard refund is available for eligible beneficial owners through Clearstream Banking.
b. Individual residents of a member country of the European Union (EU) or European Economic Area (EEA) that has concluded a Double Taxation Treaty (DTT) that includes an administrative assistance agreement with France.
c. EU companies holding a substantial participation in the capital of the French company that is paying the dividend.

Capital gains tax

There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp Duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.