Question 37231 — taxes and duties

Summary

Mr. Patrick Loiseau questions the Minister of the Economy, Finance and Recovery on the terms of application of article 790 A bis of the general tax code and its interpretation. Article 19 of Law No. 2020-935 of July 30, 2020 on amending finances for 2020 establishes in Article 790 A bis of the CGI, under conditions, a new temporary exemption from transfer taxes free of charge for certain family donations, in the limit of 100,000 euros. The exemption concerns donations of sums of money made and paid between July 15, 2020 and June 30, 2021 for the benefit of a descendant, child, grandchild or, failing that, nephews or nieces when these sums are allocated within three months to the subscription to the initial capital or to an increase in the capital of a small European company, to energy renovation work or to the construction of the principal residence of the donee. The text defines neither the concept of construction nor the exact nature of the expenses eligible for allocation within the meaning of the text. By analogy with various tax reductions, it seems that all of the expenses, which constitute the cost price of building a home that the donee intends for his main residence, could be eligible. The cost price could then include the acquisition of land and all servicing expenses. However, the administration seems to adopt a restrictive interpretation of the text and limit the amount of the eligible allocation to construction work only. Given the short time frame for allocating the sums, an overly restrictive interpretation of the text would lead to its inapplicability. He therefore asks him to re-specify the provisions made by this article.

Machine translation from French. The official text remains authoritative.

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• Patrick Loiseau · auteur

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