Equities - rates, eligibility, availability of relief etc. - France (securities held in CBF)
Withholding Tax
| Standard rate of withholding tax: | 28%a | Holding requirements / restrictions: | No |
a. 30% until 31 December 2019.
The rate of withholding tax on dividends from French equities depends on the equity type, as follows.
Ordinary equities:
The standard rate of withholding tax on dividends from ordinary French equities is:
- 28% for all undisclosed entities;
- A 12.8% standard rate applies to foreign individuals.
Eligible beneficial owners are, upon submission of the required certification, entitled to relief at source via the simplified procedure.
French SCRs:
A 28% withholding tax rate is applicable to distributions from a Société de Capital Risque (SCR - a French venture capital company) to non-resident investors when derived from capital gains realised by the SCR issued from exempted portfolio, and that would benefit from the specific long-term regime if the shareholder were a French company.
The simplified procedure is not available for such distributions but a standard refund of withholding tax is available for eligible beneficial owners through Clearstream Banking.
Availability of relief
Click on the image for a larger view of the diagram showing the availability of relief at source and/or reclaim of withholding tax on income from French equities.
| Eligible beneficial owners | Relief at Source | Quick Refund | Standard Refund |
| Residents of Double Taxation Treaty (DTT) countries | Yes | Yes | Yes |
| Foreign individuals | Yes | Yes | Yes |
| Foreign Collective Investment Vehicles (CIVs) | Yes | Yes | Yes |
| EU parent companies | Yes | Yes | Yes |
| Not-for-Profit Organisations | Yes | Yes | No |
| Foreign exempt entities | Yes | Yes | No |
| Particular Foreign entities | Yes | Yes | Yes |
| French resident (direct customer) | Yes | Yes | No |