France is Europe’s second largest country by population
(approx 65m) and was a founder member of the European Union,
being a signatory of the Treaty of Rome in 1957. France introduced
the Euro as its currency on 1st January, 2002, replacing the
Franc. The country withdrew from NATO in 1966 but returned
to the fold in April, 2009. France is Europe’s second
largest economy and is worth USD2853 billion (GDP), or 4.6%
of the world economy.
France officially emerged from the global recession in the
third quarter of 2009, with GDP growth of 0.3%. GDP per capita
was EUR24,362 (at December, 2008). GDP composition is primarily
made up of services (78%) and industry (20%). Unemployment
stands at 10.10% (2009). Inflation is 0.2% year-on-year (2008-2009).
A survey recently published by global accounting and consultancy firm, UHY, has found that while business start-ups in Dubai declined 4.8% over the overall study period of 2006-10, new business launches jumped 53.1% in 2010. RSS
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It was announced on Monday that the European Investment Bank (EIB) and banking and financial services group Société Générale have rolled out an EUR300mn credit line designed to support projects by French small and medium-sized enterprises. RSS
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French Budget Minister, Eric Woerth and Secretary of State for Trade, Crafts and SMEs, Hervé Novelli have announced plans to improve the situation of craftsmen adversely impacted when the three bodies which calculated and collected their social charges were replaced by a single body. RSS
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French Socialist candidate for the Elysée, François Hollande,
has recently unveiled details of his presidential election programme, containing
a raft of fiscal measures, designed to stimulate the economy, to support small- and medium-sized companies in France, and to
reduce the public deficit to 3% of gross domestic product in 2013. RSS
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Hoping to avoid an electoral defeat in the forthcoming presidential elections, French President Nicolas Sarkozy intends to unveil concrete details
of proposed fiscal measures designed to stimulate the country’s economy
on January 29. RSS
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France’s solidarity tax on wealth, which was radically reformed by the government in
June last year, has served to yield much greater fiscal revenues for the state
than initially predicted. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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