Month: July 2024

Here is some helpful information on when to expect tax refunds to arrive as well as when additional tax payments are due on 2023 income statements in France.

As the old adage goes, the only sure things in life are death and taxes. Whilst the first is completely random, the second usually comes like clockwork in the form of annual tax returns. 

In France, people living and working in the country have already completed their 2023 returns, and for the vast majority, these are done for the year. There are those, though, who have, for one reason or another, over or under paid. 

In these cases, the French have set out timelines to let the public know when they can expect to see their reimbursements and to alert those who need to pay supplemental amounts when they are due. 

TAX REFUNDS IN FRANCE

People can be eligible for reimbursement if the amount withheld in 2023 as part of the withholding tax exceeds the final amount of the tax paid, or if the person is entitled to a refund of tax credits or reductions. 

In most of these cases, the government has said they will be transferring the balance owed on either 24^th or 31^st July to the recipient’s bank account. For those who have not given bank details, a cheque will be posted by mail to the person’s home. 

WHEN TO EXPECT PAYMENTS

In the instance that a person owes more than was withheld during the year, they are responsible for paying the balance due. This happens when the taxpayer has not updated a withholding rate or they were sent an excessive tax credit or reduction advance in January 2024. 

The repayment schedule for this begins on 26^th September, when the government automatically withdrawals the amount from the person’s bank account. It will be taken as a lump sum if the amount owed is less than €300, and in four installations in the figure exceeds €300. 

In order to be in compliance, all taxpayers who owe must have current bank details on file with the General Directorate of Public Finance (DGFiP). The deadline to ensure this is completed in 15^th September. 

For more specific information on this and other French tax-related issues, click here.

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Close to 7,000 temporary or seasonal workers found short-term employment in the Principality of Monaco in 2023, up more than 12% on figures from the previous year. The biggest demand came from the construction industry, followed by Monaco’s many hotels, bars and restaurants. 

In all, IMSEE, Monaco’s official statistical agency, recorded 6,878 temporary or seasonal workers in 2023. Around 40% of these workers were of French nationality, just over 20% were Portuguese and about 15% were Italian. Monegasque nationals are described in IMSEE’s report as being “practically absent” from the population of temporary workers. 

Seasonal or temporary workers tend to be male, with men making up 87% of the workforce in 2023.  

Almost all of the workers – 98% – travelled into the Principality from the Alpes-Maritimes, but not necessarily from nearby. As few as 900, or 13.8%, lived in one of the four French municipalities that border Monaco.  

The Principality is home to 17 temporary work agencies. According to the local Trade and Industry Register, these agencies generated close to €270 million in revenue over the course of the year. This is a 10% increase on 2022’s figures and reflects the 12% boom in the number of available positions and workers from 2022 to 2023.  

48,000 different assignments were handed out in Monaco last year. The construction sector was responsible for just over 45% of these posts, while the hospitality industry put up 18% of the jobs. Positions in the scientific and technical administrative and support service activities represented an additional 12.8%, with the remainder being spread across the retail, real estate, trade and transport sectors.  

Around a quarter of the jobs lasted just a single day, and a further 23% covered between two and seven days.  

The hotel and food service sector was by far the biggest one-day employer, with eight in 10 workers only coming on board for a day.  

Read more:

How much do private sector workers earn in Monaco?

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.  

Photo source: Kim Taehoon, Unsplash