[ Offshore Tax ] Exploring the CSG and CRDS: France’s Social Contributions

Описание: In 2019, the United States and the French Republic memorialized an understanding through diplomatic communications. This understanding stated that the French Contribution Sociale Generalisee (CSG) and Contribution au Remboursement de la Dette Sociale (CRDS) taxes are not social taxes covered by the Agreement on Social Security between the two countries.

Accordingly, the IRS will not challenge foreign tax credits for CSG and CRDS payments on the basis that the Agreement on Social Security applies to these taxes. The IRS’s change in policy means individual taxpayers who paid or accrued these taxes, but did not claim them, can file amended returns to claim a foreign tax credit.

TIMESTAMPS:
0:00 INTRO
0:20 France’s Social Contributions
0:55 Income tax rate in France
1:20 Capital gain taxes in France
2:10 OUTRO


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