Taxes
France — Tax: Capital Gains
France taxes capital gains on securities (shares, dividends, interest) by default under the Prélèvement Forfaitaire Unique (PFU, or 'flat tax'): 30% total, comprising 12.8% income tax plus 17.2% social contributions. Taxpayers may elect instead for the progressive income tax scale if their marginal rate is lower. Crypto gains are taxed slightly higher, at 31.4% (12.8% + 18.6% social contributions) since a 2026 change. Real estate capital gains follow separate rules, with a combined effective rate of 36.2% on taxable gains, plus a surtax on gains exceeding €50,000.
VerifiedGovernment / official sourceimpots.gouv.fr / Prélèvement Forfaitaire Unique (PFU)Last reviewed: 2026-07-20
Key facts
- Default PFU flat tax on securities gains/dividends/interest: 30% (12.8% income tax + 17.2% social contributions).
- Taxpayers can opt for the progressive income tax scale instead if it results in lower tax (useful for modest total income).
- Crypto capital gains taxed at 31.4% (12.8% income tax + 18.6% social contributions) since a 2026 rate change.
- Real estate capital gains: combined effective rate of 36.2%, with an additional surtax applying above €50,000 in taxable gains.
Steps
- Choose PFU or progressive scale — Elect on the annual tax return; PFU (30%) is the default unless progressive scale is elected.
- Apply separate real estate rules — Property gains use the 36.2% combined rate plus surtax above €50,000, not the PFU.
Costs
- PFU flat tax (securities): 30%
- Crypto capital gains rate: 31.4%
- Real estate capital gains (combined): 36.2%, plus surtax above €50,000
Common mistakes
- Assuming the 30% PFU rate applies uniformly to all capital gains — real estate and crypto have distinct rates.
- Not electing the progressive scale when total income is low enough to make it more favorable than the 30% flat tax.