French General Tax Code
In force1. Subject to 2, the income is determined by the gross value in euros of the products collected according to the exchange rate on the day of the payments, without any deduction other than that of the taxes established in the country of origin and the payment of which is the responsibility of the beneficiary.
The amount of the lots is fixed by the actual amount of the lot in euros.
For redemption premiums, the income is determined by the difference between the sum redeemed and the issue rate of the loans under the conditions referred to in 3° of article 119.
2. The income from capitalisation bonds or contracts as well as investments of the same nature mentioned in 6° of article 120 is made up of the difference between, on the one hand, the gross sums repaid to the beneficiary and, on the other hand, the amount of premiums paid, where applicable, since the acquisition of this bond or contract, increased, in this case, by the acquisition price of the bond or contract.
Where these proceeds are attached to bonds or contracts taken out with insurance companies established outside France in a Member State of the European Union, or in another State party to the Agreement on the European Economic Area, which has concluded an administrative assistance agreement with France with a view to combating tax fraud and evasion, the allowance provided for in I of article 125-0 A is applicable under the same conditions. The limits of this allowance apply globally to the products defined in this paragraph and in article 125-0 A.
Gains on the sale of bonds or contracts are determined by applying the rules set out in article 124 C.
