Third Amendment to the 2020 finance act: temporary exemption for transfers
Article 19 of the Finance Act introduces a temporary exemption from transfer tax, which is free of charge, up to a maximum of 100,000€ for the benefit of a descendant, or in the absence of a nephew or niece. This exemption only applies if the funds are allocated within three months to :
- A subscription to the capital of a small European company
- Energy renovation works
- Construction of a main residence
European companies are non-listed companies that have been conducting industrial, commercial, craft, agricultural or liberal activity for at least 5 years. The company must not have distributed a profit and must not have been formed out of a concentration.
The 100,000€ limit applies to the donor, regardless of the number of beneficiaires.
The allowance applies from 15th July 2020 until 30th June 2021.
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