2024-08-09 13:40:00
carbonThis is a classic of every annual fiscal bill: a revision of the capital tax rules. Since 2022, the Left and the National Rally (RN) have tried to systematically reverse the rules of the current real estate wealth tax (IFI), which replaced the old wealth solidarity tax (ISF) during the first five-year term of Emmanuel Macron. The presidential camp triggered 49.3.
The loss of the relative majority by the presidential bloc and the lack of a new clear majority make the discussions that are sure to take place in the autumn even more uncertain. Marine Le Pen’s party and the New Popular Front (NFP) each defend their own version of the new ISF. The next government, even if it comes from the presidential bloc, cannot oppose their amendments with 49.3 votes or risk a huge victory in the motion of censure.
“If the NFP wants to pass the amendments on the new ISF, they will be obliged to do it with our votes,” stressed Renaud Labaye, secretary general of the RN group in the National Assembly. We will discuss among ourselves what we will vote for and what we will not vote for in the proposed amendments. » The RN, on the other hand, cannot hope alone for the adoption of its amendments. Therefore, a compromise between the two projects will need to be found if the two groups want to avoid the status quo desired by the presidential camp and the revolutionary party.
The two projects don’t share the same philosophy. Are they incompatible?
Registered nurse’s project: “fight financial speculation” and generate revenue to fund her fertility policy
As the name suggests, the current real estate wealth tax is a tax levied only on real estate assets. In contrast, the old ISF also weighed on movable assets, that is, financial assets, especially stocks.
On the RN side, we defend the IFF project. “It is the old ISF minus the IFI,” Renaud Labaye concludes. In other words, we include the ISF base, including art held for less than ten years, and exclude single residences. »
What is the concept of a “single residence”? In this IFF, a residence that a person owns can be exempted, but which does not have to be their main residence. For example, if you rent an apartment in Paris that you use most of the year and is therefore your main residence, but you have a family home on the Île de Ré, you can deduct this second home from your taxable assets. “This exemption can only concern one residence,” Renaud Labaye points out.
Regarding the concept of “single house”, RN explains that it wants to protect “roots”: “Having a house in France, when you maintain it and go there, you provide a livelihood for the artisans and merchants of the region.» On the contrary, the idea of this international financial forum is to attack more “financial speculation” that takes money from the real economy of France.
As with the old ISF and the current IFI, the exemption for shares held by small and medium-sized enterprises is retained. This is a way to encourage investment in these already difficult to finance companies.
“With tight budgets, we want to find financial wiggle room. Family policy [politique nataliste, NDLR] We expect that applying will cost the state money, so we ask the luckiest people to make the effort. » The far-right party estimates annual revenues at 3 billion euros, which is the difference between the amounts generated by the ISF (5 billion) and the IFI (2 billion).
NFP Project: Tax the richest more to achieve more social and ecological justice
In terms of NFP, program The article published on the occasion of the legislative elections talks about “rebuilding a strengthened ISF with a climate component” in the hope of a “fair tax policy.” The specific outlines of this measure have not yet been made public.
According to the statement Figaro Éric Coquerel, MP for Insoumis, re-elected as President of the Finance Committee of the National Assembly, said that “the new ISF should be very close” to the rejected amendment to the 2024 Finance Bill (n°I-CF1311) that Nupes proposed in October 2023. It aims to establish “a wealth tax designed to encourage pro-ecological behaviour”. “If your wealth is built on an excellent carbon and climate footprint, you are at an advantage,” Éric Coquerel concluded to the daily.
The marginal tax rates on the top bracket of taxable assets will also be revised upwards compared to the old ISF. Le Figaro. Thus, starting from 10 million and 1 euro, every additional euro will be taxed at 3%, while the old ISF rate was 1.5%.
On the other hand, the tax base will be roughly the same as the old ISF, with no tax on professional real estate. With these provisions, the NFP is expected to generate $15 billion in revenue per year. Thus, there are three more than the old ISF.
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