The first amending finance law
First , the amended Finance Act of 29 July 2011 was the port ed to 25% the rate of duty succession due by the beneficiary of an insurance policy in case of death, beyond 902 € 830 per share after the reduction of 152,500 euros . This new rate is applicable to life insurance with a taxable net share exceeds1,055,338 euros in case there is only one beneficiary, and 2 111 000 where there are two beneficiaries.
Abandonment of tax tolerance in favor of grandchildren. It should be added that the tax administration abolished, in 2011, a tolerance which allowed grandchildren to benefit from the direct line allowance of € 159,325 per child when their father or mother was an only child and had renounced the tax. succession (Rescript n ° 2011-22 of July 26, 2011). From now on, they only benefit from the reduction of € 1,594, applicable to inheritances between grandparents and grandchildren.
Secondly , it has deleted e exemption from inheritance beneficiary of a life insurance policy taken out by a French non r esident and died in France.
A uparavant when expatriate French had taken out a life insurance policy as a non tax resident and died in France, the beneficiary was totally exempt from transfer tax on death, so the 20% levy, even though ' he himself resided in France. This exemption is removed with regard to contracts taken out before the entry into force of the law, as soon as the insured dies after this date . From now on, the beneficiary must pay the 20% tax after application of an allowance of 152,500 € per beneficiary (tax increased to 25% above 902,838 €), if one of the following two conditions is met : 1 °.The beneficiary has his tax domicile in France, and had it for at least 6 years during the 10 years preceding the death of the insured ; 2 °. The insured has his tax domicile in France at the time of termination of the contract (death).Otherwise, the beneficiary does not bear any tax deduction.
Thirdly , the Finance Act amendment July 29, 2011 has modified ed taxation of life insurance contracts containing clauses dismembered beneficiaries. D now dealing, the usufructuary and the bare owner are taxed in proportion to their share according to the tax schedule on the age of the usufructuary the date of death under Article 669 of the Tax Code, the reduction of 152,500 € is itself distributed up to the share of the usufructuary and the bare owner determined according to the same scale .
For example, if the usufructuary was over 81 years of age, the value of the usufruct is 30% and that of the bare ownership 70%, the reduction of 152,500 € being shared according to these same percentages. Thus, not only does the usufructuary lose the exclusive benefit of the € 152,500 allowance , but now the beneficial owner and the bare owner do not each benefit from this allowance, the single allowance being split between them. It should be noted that this tax reform does not put an end to the total exemption of the surviving spouse and the civil union partner.
Fourthly , it has modified é also the tax thresholds to the ISF whose base includes certain life insurance contracts, including group insurance contracts.
Quinto , it has deleted e , from 2013, the tax shield that allowed purchasers of life insurance policies multi-media to reduce their taxable income and increase their right to restitution. To the extent that the right to restitution is acquired by the taxpayer on 1 st January of the second year following the completion of income, tax refund request may be exercised until the year 2012 included.
The second amending finance law for 2011 of September 19, 2011
First , this law increased the rate of social security contributions on savings income, including income generated by life insurance contracts. The overall rate of these deductions withheld at source by the insurer thus drops from 12.3% to 13.5%, on January 1, 2012 (CSG : 8.20% ; CRDS : 0.50% ; social levy : 3 , 40 % instead of 2.2%; additional contribution : 1.40%). As a reminder, on January 1, 1996, this overall rate was 0.5% !
This regime applies in particular to life insurance contracts whose guaranteed sum refers to one or more units of account, as well as to multi-support contracts whose guaranteed sum refers to both investment vehicles. in units of account and to a support in currency, as soon as they are settled in the event of the life of the insured by his request for total or partial redemption (C. secur. soc., art. L. 136-7, II-3 ° ; Instr. 15 Nov 2010: BOI 5 I-4-10, 17 Nov 2010).
Secondly , the second amended Finance Act of 19 September 2011 simply doubled the tax on insurance agreements (TCA) which are subject since 1 st January 2011, supplementary health insurance contracts called " solidarity and responsible ”. From 3.5%, this tax rises to 7%, with an expected revenue for the State of more than one billion euros in 2012. According to consumer associations, the measure will cause a further increase in contributions of about 20 euros per person and per year (UFC Que-Choisir). Undoubtedly, the most modest families will give up their complementary health contract or opt for less protective guarantees.
TCA. The tax on insurance agreements originates from a stamp duty and a registration fee to which insurance policies were subject from the laws of 9 Vendémiaire Year VI and 23 Frimaire Year VII. A law of January 31, 1944 substituted for these rights a single tax, known as the " special tax on insurance agreements ", applicable, in principle, to " any insurance agreement concluded with an insurance company or company or with any other French or foreign insurer ”(CGI, art. 994). The rates are different depending on the risk guaranteed and article 995-5 ° of the French General Tax Code provides for a multitude of exon er ation. J ntil 1 st January 2011, escaped this tax , the so-called complementary health insurance contracts " caring and responsible ", benefiting about 86% of the French population (Source : Report of the Research, Studies , evaluation and statistics, DREES, on modal contracts). However, to reduce public deficits, these contracts were taxed at the rate of 3.5% in the 1 st January 2011. This rate was increased to 7% by the second supplementary budget law for 2011 of 19 September 2011. The The rate of 7% is that which already applied to so-called " ordinary " health insurance contracts (fire insurance relating to non-exempt agricultural risks ; fire insurance for permanently and exclusively affected property. industrial, commercial, craft or agricultural activity, as well as administrative buildings of local communities ; insurance covering operating losses resulting from fire in the context of an industrial, commercial, craft or agricultural activity ; contracts of Health Insurance). From now on, these “ ordinary ” health insurance contracts are taxed at the rate increased by 9%.
4. The finance law for 2012
The Finance Act No. 2011-1977 for the year 2012 of 28 December 2011, contains no tax measures notables regarding insurance , apart from the indirect consequences resulting from the freezing of thescale of tax income , and the freezing of deductions and limits on the scales of inheritance and gift tax scales .
In 2012, the e scale applicable to the taxation of income earned in 2011 will therefore identical to that applied to the taxation of income received in 2010 (up to 5963 € 0% ; from 5964 € to 11,896 € : 5.5% ; from 11 897 € 26 420 €: 14% ; 26 421 € 7 0 830 €: 30% ; greater than 70 831 € : 41%). This IR scale , except option for the flat-rate withholding tax, is applicable to financial income generated by premiums or contributions, recorded in the event of total or partial surrender of a life insurance contract or, at the end of the contract. , when the capital is paid to the beneficiary.
For granted donations and inheritances from 1 st January 2012, allowances and limits of the bands of scales of inheritance and gift taxes are held to the same amounts as in 2011. It is thus the limit of 902,830 euros per unit, after the reduction of 152,500 euros, which bears the 25% rate applicable to life insurance since the amending finance law of July 29, 2011.
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