Income Tax - Savings and Investment Income

Verified 01 January 2023 - Directorate for Legal and Administrative Information (Prime Minister)

Income tax: 2023 2022 income tax return

Published on 1 January 2023

This page is updated for the 2022 tax return.

However, forms, online services and information documents are not yet available for the 2023 campaign. They will be posted as soon as they are available.

You collect investment income and wonder how to report it? Regulated savings books (booklet A, sustainable development booklet, etc.) are exempt from tax. For other investments, taxation varies depending on whether they are fixed (bonds, debt securities, etc.) or variable (shares and business shares). Special plans are provided for certain investments, in particular share savings plan and life insurance.

What applies to you ?

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Taxable income

Income from the following investments is taxable:

Government bonds and borrowings
Bonds issued by public legal entities (department, municipality, etc.)
Deposit accounts and term accounts
Tax Bank Books
Treasury bills and cash bills
Marketable debt securities (cash note, certificate of deposit, etc.)
Mutual Fund Shares

Imposition

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

Declaration

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

Taxable income

Income from shares and shares of businesses subject to business tax are taxable.

These revenues are called, as the case may be, dividend or distributed income.

Imposition

The dividend are subject to tax.

To determine the value, you can choose between a single lump sum payment (flat tax) and the progressive scale.

Single Flat Pick Option

Revenues shall be subject to a single flat-rate levy of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You can then benefit from abatement of 40%.

You must also pay social (17,20%).

Declaration

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

PEL open before 2018

ELP 12 years or younger

Interest on a LIP under 12 years of age is exempt.

PEL opened for more than 12 years

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

ELP opened in or after 2018

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

CEL open before 2018

Interests of a CEL opened before 1^to January 2018 are exempt.

CEL since 2018

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

Taxation of income (dividend and capital gains) of the AAP depends on the date of your withdrawals.

Withdrawal or redemption after 5 years

EAP income

If you do not withdraw or redeem within 5 years of your 1^to payment, you are exempt from income tax.

However, the exemption of income from unlisted securities held in an AAP shall be limited each year to 10% the amount of such securities.

FYI

the revenues of the EAP are subject to 17,20% of social levies (CSG, CRDS).

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

Annuity

The life annuity after the expiration of^e The year of the AAP is exempt from income tax.

FYI

the life annuity is subject to 17,20% of social levies (CSG, CRDS).

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

Withdrawal or redemption before 5 years

If you made a withdrawal or redemption before the 5 years of your AAP, the net gain realised since the plan was opened is taxed.

The net gain is the difference between:

Liquidity value of the AAP on the date of withdrawal
Payments made on the plan since its opening

You can choose one of the following 2 tax modes:

Single Flat Charge (UFP) 30% (also called flat tax)
Progressive scale

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax). This levy is made up of income tax (12,8%) and social (17,20%).

You can choose to progressive scale of income tax, depending on marginal tax bracket. You will have to pay social (17,20%).

In certain situations, early withdrawals are exempt, in particular in the following cases:

Death of Plan Holder
Allocation of funds to finance the creation or resumption of a company, subject to conditions

Please note

social levies (CSG, CRDS) at the rate 17,20% remain due.

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

The amounts paid by your employer under a salary savings plan are exempt from income tax.

FYI

income from movable property shall be subject to 17,20% of social levies (CSG, CRDS), with exceptions.

The taxation of life insurance contracts is dependent on the age of the contract at the time of withdrawal and the date of payment of premiums.

FYI

earnings of life insurance are subject to 17,20% of social levies (CSG, CRDS).

Income from the following investments is exempt from income tax:

Book A
Booklet
Popular Savings Book (LEP)
Sustainable Development Booklet (LDD)

FYI

these revenues are exempt from social.

Taxation on exit of the retirement savings contract depends on the type of retirement savings contract subscribed:

Individual Retirement Savings Plan (PAR)
Company Retirement Savings Plan (Pere)
Group company Retirement Savings Plan (Pereco)
Compulsory company retirement savings plan Pero
Popular Retirement Savings Plan (Perp)
Group Retirement Savings Plan (Perco)
Optional schemes Prefon, Corem and CGOS

Taxation also depends on:

Payment in annuity or capital
Exit at retirement or early exit
Tax deduction of contributions paid or no tax deduction of these contributions

Warning

this income is not required to be reported on your 2023 return on your 2022 income. They will have to be declared on the 2024 declaration.

Taxable income

Income from the following investments is taxable:

Government bonds and borrowings
Bonds issued by public legal entities (department, municipality, etc.)
Deposit accounts and term accounts
Tax Bank Books
Treasury bills and cash bills
Marketable debt securities (cash note, certificate of deposit, etc.)
Mutual Fund Shares

Imposition

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

You can request to be excused from non-releasing lump sum if reference tax income of the penultimate year is less than €25,000 (€50 000 for a couple).

For revenues collected in 2023, this is the 2021 tax reference income.

The application must be sent to the financial institution that pays you the income no later than November 30 of the year preceding the year of payment (November 30, 2023 for an exemption in 2024).

In general, the establishment sends you a certificate of honour form to return it completed if you meet the conditions.

Taxable income

Income from shares and shares of businesses subject to business tax are taxable.

These revenues are called, as the case may be, dividend or distributed income.

Imposition

The dividend are subject to tax. To determine the value, you can choose between flat tax and the progressive scale.

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

You can request to be exempted from the non-discharge lump sum payment if your reference tax income of the penultimate year is less than €50 000 (€75,000 for a couple).

For revenues collected in 2023, this is the 2021 tax reference income.

The application must be sent to the financial institution that pays you the income no later than November 30 of the year preceding the year of payment (November 30, 2023 for an exemption in 2024).

In general, the establishment sends you a certificate of honour form to return it completed if you meet the conditions.

PEL open before 2018

ELP 12 years or younger

Interest on a LIP under 12 years of age is exempt.

PEL opened for more than 12 years

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

2018

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

CEL open before 2018

Interests of a CEL opened before 1^to January 2018 are exempt.

CEL since 2018

Single Flat Pick Option

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

Bar option

You can choose progressive scale of income tax, depending on marginal tax bracket.

You will also need to adjust social (17,20%).

Taxation of income (dividend and capital gains) of the AAP depends on the date of your withdrawals.

Withdrawal or redemption after 5 years

EAP income

If you do not withdraw or redeem within 5 years of your 1^to payment, you are exempt from income tax.

However, the exemption of income from unlisted securities held in an AAP shall be limited each year to 10% the amount of such securities.

FYI

the revenues of the EAP are subject to 17,20% of social levies (CSG, CRDS).

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

Life annuity

The life annuity after the expiration of^e The year of the AAP is exempt from income tax.

FYI

the life annuity is subject to 17,20% of social levies (CSG, CRDS).

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

Withdrawal or redemption before 5 years

If you made a withdrawal or redemption before the 5 years of your AAP, the net gain realised since the plan was opened is taxed.

The net gain is the difference between:

Liquidity value of the AAP on the date of withdrawal
Payments made on the plan since its opening

You can choose one of the following 2 tax modes:

Single Flat Charge (UFP) 30% (also called flat tax)
Progressive scale

Revenues are subject to a single flat-rate levy (UTB) of 30% (also called flat tax).

This levy is made up of income tax (12,8%) and social (17,20%).

You can choose to progressive scale of income tax, depending on marginal tax bracket. You will have to pay social (17,20%).

In certain situations, early withdrawals are exempt, in particular in the following cases:

Death of Plan Holder
Allocation of funds to finance the creation or resumption of a company, subject to conditions

Please note

social levies (CSG, CRDS) at the rate 17,20% remain due.

To income tax return, you can view the following:

Explanatory note (in particular that relating to income from securities and movable capital)
Practical Brochure of Income Tax
Supporting documents submitted by paying institutions (IFU form)

If a pre-filled amount is incorrect, you must correct or complete it.

The amounts paid by your employer under a salary savings plan are exempt from income tax.

FYI

income from movable property shall be subject to 17,20% of social levies (CSG, CRDS) with exceptions.

Taxation of life insurance contracts depends on the age of the contract at the time of withdrawal and the date of payment of the premiums.

FYI

earnings of life insurance are subject to 17,20% of social levies (CSG, CRDS)

Income from the following investments is exempt from income tax:

Book A
Booklet
Popular Savings Book (LEP)
Sustainable Development Booklet (LDD)

FYI

these revenues are generally exempt from social.

Taxation on exit of the retirement savings contract depends on the type of retirement savings contract subscribed:

Individual Retirement Savings Plan (PAR)
Company Retirement Savings Plan (Pere)
Group company Retirement Savings Plan (Pereco)
Compulsory company retirement savings plan Pero
Popular Retirement Savings Plan (Perp)
Group Retirement Savings Plan (Perco)
Optional schemes Prefon, Corem and CGOS

Taxation also depends on:

Payment in annuity or capital
Exit at retirement or early exit
Tax deduction of contributions paid or no tax deduction of these contributions

Who can help me?

Find who can answer your questions in your region

For general information
Tax Information Service
By phone:
0809 401 401
Monday to Friday from 8:30 am to 7 pm, excluding public holidays.
Free service + call price
To attach the local service manager of your folder
Service in charge of taxes (treasury, tax department...)

General tax code: Article 117cDividend levy
General tax code: Articles 119a to 119dWithholding tax on income
General Tax Code: Article 125AFixed Income Investment Income Deduction
General tax code: Article 242cRequest for exemption from compulsory levy
Bofip-Taxes n°BOI-RPPM-RCM relating to the taxation of income from movable capital

Taxes: Accessing Your Personal Space
Online service
Calculation simulator for 2022: 2021 income tax
Simulator
2022 Online 2021 Income Statement
Online service
Income tax return (paper)
Form
2022 Income Supplement 2021
Form
Summary return on securities transactions and income from movable assets
Form
Tax on movable income - Application for exemption from direct debit
Document template
2022 Statement of 2021 Income Received Abroad
Form

FAQ

Income tax: return and incomeService-Public.fr
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Books, plans and savings accountsService-Public.fr
Investments in the stock marketService-Public.fr
Life InsuranceService-Public.fr
Salary Savings, Participation and InterestService-Public.fr
Income tax - Retirement savings contributions (deduction)Service-Public.fr
Tax SiteMinistry of Finance
2022 Practice Brochure - 2021 Income Tax ReturnMinistry of Finance
Income tax: information leafletsMinistry of Finance
Moveable incomeMinistry of Finance