What is business property?
The definition of business property varies according to the sphere in which the definition is used.
There are two definitions:
- the first applies to all the assets and activities defined in the French Commercial Code,
- the second is used for tax purposes and relates particularly to the performance of the business activity.
Tax definition of business property :
The definition of business property used by the tax authority is closer to everyday language, i.e. “ the assets needed for the performance as a one-person business of an industrial, commercial, craft-based, agricultural business or self-employed profession and rights in the company, i.e. shares ”.
Tax authorities expand this definition to include the direct or indirect ownership of a percentage of the capital of a company, or add the concept of a main business activity.
The tax definition must be used for purposes such as determining whether any capital gain is classified as a personal or business gain.
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