3 times more tax exiles in 3 years. What for ? – The Obs

“Les Echos” have purchased data on tax exiles from the Ministry of Economy and Finance. These figures show an increase in the number of departures from 2011. Explanations.

# Who are those who have left France?

The rich, unsurprisingly. In 2013, there were 3,744 departures for taxpayers whose tax incomes above 100,000 euros, 40% more than in 2012. And it is three times more than in 2010 (1,330 starts).

For annual income above 300,000 euros, there were 659 departures in 2013, 46% increase over one year.

Also between 2012 and 2013, there are also 15% of departures in addition to those subject to wealth tax. As highlighted “Les Echos” is much more than the average expatriations that increase on average by 6% per year.

# Why did they leave?

The increase of tax exiles started in 2011 when Nicolas Sarkozy was in power. The abolition of the tax shield and the establishment of an outstanding contribution to the income of more than 250,000 euros that year are possible explanations for this increase. Just as the creation of a new tax bracket to 45% or the announcement of a 75% tax by the Netherlands candidate.

But that’s not all. As recalled by the business daily, a 2014 parliamentary report noted that expatriation was mainly due to professional reasons:

The tax incentive, moreover almost never acknowledged by those concerned, is not the first nor essential, the report beforehand. He does not deny the need for ultra-minority party expatriates. “

# Where have they gone?

According a study by the Public Finances Solidaires union published in 2012, the persons liable to the ISF have chosen to go abroad, 16% had chosen Switzerland, followed by Belgium and the United Kingdom ( 12%), the US (9%), Morocco (5%) and Italy (3%).

The number of starts for Portugal tripled between 2010 and 2013 indicates “Les Echos”, especially because of its tax advantages.

# What is the loss to France?

According to “The Echoes “, only 0.3% of taxpayers subject to the ISF leave France. But because of the concentration of the tax on the wealthiest taxpayers, the shortfall is substantial. According to the report of the union Public Finance Solidarity , the wealth tax would suffer a shortfall 4-6000000000 euros in 2010 for tax exiles who should have been subject to the ISF. 1.4 billion euros in unrealized capital gains on equity portfolios are also out of the country in 2011.