It is more important than ever to distinguish the visible and the invisible. Emmanuel Macron will have played in both registers with a certain enthusiasm.
The transformation of the ISF, which brought in 5 billion euros per year to the State, was replaced by the real estate wealth tax (IFI), which provides. The tax and social contributions whose duration is surreptitiously extended or the thresholds frozen. It is a very different story on the court side, where the most commented on measure was the transformation of ISF. It was replaced with the real Estate wealth tax, which provides a tax break for property owners. The ISF was abolished and replaced by a new tax-free allowance for the purchase of real estate. It has been replaced with a tax credit for real estate investors, which has been extended to a maximum of five years. It will also provide a tax-break for investors, but only for the first three years of a new five-year plan. The plan will be reviewed in the second half of the year, after which it will be extended again.