Tax deductions are maintained in the same conditions.

During the spring 2019, you will declare your revenues 2018 and will indicate your donations 2018. You won’t pay an income tax for your revenues 2018 (except on extraordinary revenues)  but you will conserve the tax deductions linked to your donations.

* This is your first donation: your tax deduction 2018 will be tansformed in tax credit and will be refunded during the summer 2019 by the French tax administration.

* If you made a donation in 2017: in January 2019, the French tax administration has made an advance payment equivalent to 60% of your tax deduction 2017. If your donation is equivalent in 2018, the remaining 40% will be refunded over the summer 2019. In the opposite case, an adjustement will be realised.

You owe this tax when the taxable net value of your property assets exceeds €1.3M as of January 1st 2019. 

*Permanent residence (or tax domicile): allowance of 30%

Donations to the ESCP Europe Foundation are still tax deductible: 75% of your donation is tax-deductible in the limit of €50 000 which means a maximum donation of €66 667.

* You have to donate before the deadline of your tax return (see below).

There is no separate declaration. You must declare your IFI with your income tax by completing the appendices and evaluating your property assets.

2019 deadline:

IFI declaration and donation: 

16 May: deadline for paper tax return

21 May: deadline for online tax return – departments from 01 to 19, Monaco and non-residents

28 May: deadline for online tax return – departments from 20 to 49

4 June: deadline for online tax return – departments from 50 to 976

Tax withholding: from September 2019

Divide the amount of your IFI by 0.75 to obtain the amount of the donation which reduces your IFI to zero.