Ahead of tax declaration deadlines in the spring, the French government has announced the annually updated tax brackets and rates applicable to 2023 earnings and income.
France’s sliding tax scales are set annually, and in 2024, the income tax bands have been increased by 4.8%.
There are five ascending tax bands, starting with the lowest income earners and going up to the highest.
They are as follows:
- Income of €0 to €11,294 will be taxed at 0%
- Income of €11,295 to €28,797 will be taxed at 11%
- Income of €28,798 to €82,341 will be taxed at 30%
- Income of €82,342 to €177,106 will be taxed at 41%
- Income above €177,106 will be taxed at 45%
The tax rate also takes into consideration the quotient familial, which is to be understood as the “number of shares, which depends on your situation and the number of people in your tax household”, according to the government’s website. Typically, an adult equates to one full “part”, while a child’s weighting is 0.5 parts.
All French residents must pay taxes in France on worldwide income, including money earned from investments, corporate or business income, inheritance, property, wealth, and certain purchased goods and services.
Deadlines
Income tax declarations will be accepted from early April.
Paper income tax declarations must be submitted by 22nd May.
The deadline for online declarations for French departments numbered 01 through to 19, and non-residents liable for taxation, has been set for 25th May. For departments 20 to 54, the deadline is 1st June, and for the remaining departments, including overseas territories, the deadline is 8th June.
For more information on the revisions and how to calculate 2023 income tax, click here.
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