If you are interested in engaging in tourist B&B rentals in France or are considering investing in a property to invest in tourist rentals, then you may need to be aware of the French government's tax policy.
If you are interested in engaging in tourist B&B rentals in France or are considering investing in a property to invest in tourist rentals, then you may need to be aware of the French government's tax policy. From 2024, there will be some changes to the Micro-BIC tax regime for small tourist B&Bs.
In this article, Micco will give you an overview of the Micro- BIC changes along with your options for paying taxes on your 2023 income.
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Since January 1, 2024, the annual turnover threshold not to be exceeded for the application of the Micro-BIC regime for unrated tourist furnished rentals is set at €15,000. However, it is still possible to choose to apply the previous provisions for the income of the year 2023.
Meublés de tourisme are furnished villas, apartments or studios, for the exclusive use of the tenant, offered for rental to a visiting clientele who do not elect domicile there, and who stay for a period of one day, one week or one month (article L. 324-1-1 of the French Tourism Code).
They are distinguished from other types of accommodation, notably hotels and tourist residences, in that they are reserved for the exclusive use of the tenant, with no reception area or lobby, and no shared services or facilities. They differ from chambres d'hôtes, where the occupant is present during the rental period, and furnished tourist accommodation, where the occupant is not necessarily present during the rental period.
Seasonal or tourist rentals differ from residential leases in two respects:
the tenant does not take up residence in the property, but rather lives there mainly for vacation purposes;the seasonal rental must be concluded for a maximum of 90 consecutive days with the same person.
Since January 1, 2024, the annual turnover threshold not to be exceeded for the application of the Micro-BIC regime for unrated tourist furnished rentals is set at €15,000. However, it is still possible to choose to apply the previous provisions for the income of the year 2023. These changes may impact lessors' tax responsibilities, business profits, and financial planning, so close attention and appropriate measures are necessary.
As a financial services company, Micco provides comparable services and solutions tailored to the needs of modern businesses. With a user-friendly platform, competitive pricing, and a commitment to customer satisfaction, Micco is another viable option worth exploring.
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