Expat Community > France

Annijo
Joined 2019
Posts: 1

Loan/Gift Declaration and Tax

5 years ago

Hi there,

I have searched the forum and have not found the answers to these questions, apologies if I have overlooked something.

Question 1.
If a loan is made between siblings but done informally, through bank transfer but without any accompanying written agreement or documentation outlining any terms of repayment etc., will the French tax authorities view that as a gift? (from non-french resident sibling to french resident sibling)

Question 2.
In the case of the donor dying before loan has been repaid (one repayment made)
When should a declaration of the loan/gift be filed? when the money has been transferred or within a year of the donor's death?

Question 3.
with regards to statue of limitations..
If the authorities where to carry out an inspection due to this loan - would they go by the date of the death of the donor or when the loan was made .. or by the date of the last repayment made on the loan?

Many thanks in advance for any info on this!

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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Expat Community > France

Loan/Gift Declaration and Tax

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