Debt securities - rates, eligibility, availability of relief etc. - France (securities held in CBF)

02.10.2012

Withholding Tax

Standard rate of withholding tax:0%Holding requirements / restrictions:No

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

The current standard rates of withholding tax on interest payments from French debt securities are as follows:

Government debt securities0%
Corporate debt securities (not including corporate bonds issued before 1 January 1987 and redenominated in EUR on 1 January 1999)0%
FCC units0%
TCNNs (non-negotiable debt securities)0%
Corporate bonds issued before 1 January 1987 and redenominated in EUR on 1 January 1999 (tax withheld at source directly by the issuer)15%
Titres Participatifs (TPs) issued before 1 January 1987 (tax withheld at source directly by the issuer)15%
Bonds issued before 1 January 196515%

Note: Before 23 July 2007, BMTNs, BTANs, BTs, BTFs, CDs and FCC units with a maturity of less than five years were subject to 16% tax levy.

Availability of relief

Beneficial owners holding corporate bonds issued before 1 January 1987 and redenominated in EUR on 1 January 1999 or Titres Participatifs (TPs) issued before 1 January 1987 (for which the 15% tax was withheld at source directly by the issuer) may apply for a standard refund directly with the French Tax Authorities provided that they are eligible for a reduced tax rate according to a Double Taxation Treaty (DTT) signed between their country of residence and France.