Paris – increase of the real estate transfer tax on 1st January 2016
As from 1st January 2016, sales of buildings completed for more than five years will be subject to the RETT at the global rate of 5.80% instead of 5.09%. This increase also concerns sales of buildings completed less than five years when performed by non VAT payers.
Sales of buildings completed less than five years remain subject to the RETT at the global rate of 0.715% when performed by VAT payers.
Concerning the office, business or storage buildings located in Paris, the global rate should actually be increased to 6.40% subject to adoption by French Parliament of Article 21 of the Amended Finance Bill 2015 (see on this subject the article of November 16).