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France has been busy this year. It’s issued new tax legislation on trusts, directed at international families. Also, the newly elected government has ended favorable tax reforms. 

Two important events took place in 2012: the acknowledgment of the economic crisis and related French debt and the election of left-wing parties to Parliament.

Tax Planning

It used to be that the Parliament would issue tax acts once a year. Recently though tax bills have been passed several times a year, making planning difficult. The trend is an increase in French taxes, including income tax and social security taxes, wealth tax and inheritance and gift tax, which are increasingly complex and require carIn 2012, international families who are French residents a...