What is the tax treatment for bonds in France?

Are you considering investing in securities issued by a French company but unsure about the applicable taxation? You’re in the right place to understand how your investments are taxed in France. Let us guide you!

🔎 To go further:

• Mastering the taxation of your responsible investments
• What taxation applies to investments in Poland?
• What taxation applies to investments in Luxembourg?

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How Are My Investment Returns Taxed?

French Tax Resident

As a French tax resident, you can invest on our platform either in your own name (individual) or through a legal entity (company).

For individuals

As a French tax resident, the interest you receive on your Enerfip account qualifies as “fixed-income investment income,” subject to income tax in the same way as interest from standard bank savings accounts (excluding Livret A and LDD).

By default, the Flat Tax (Prélèvement Forfaitaire Unique – PFU) applies to all interest received. The total rate is 31.4%, broken down as follows:

• CSG/CRDS (social contributions): These mandatory social levies contribute to funding Social Security and Social Protection in France. Combined, they amount to 18.6% of your gross interest.
• Income tax: Non-final withholding at 12.8%. However, when filing your annual tax return, you may opt for taxation under the progressive income tax scale if it is more advantageous for you. Feel free to contact our Investor Relations team for assistance on this matter.

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💡 Good to know

By default, Enerfip withholds 31.4% from any interest payment in accordance with regulations. In certain cases, you may request an exemption from this mandatory withholding.

For legal entities

If you invest through a company, you are subject to French corporate income tax under the standard profit taxation rules:

• 15% reduced rate up to €42,500 of profit for SMEs
• 25% beyond that threshold

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Exemption from Mandatory Withholding

When you qualify for an exemption, the mandatory withholding is limited to 18.6% (instead of 31.4%), corresponding solely to social contributions (CSG/CRDS).

You will then pay income tax when filing your annual tax return.

How to apply?

You must request the exemption before November 30 each year. It will apply to the tax return filed in year N+1 for income earned in year N.

It’s simple: log into your Enerfip account and tick the relevant box.

Who is eligible?

You may request an exemption if your reference taxable income (revenu fiscal de référence) from the previous tax year is below:

• €25,000 for single taxpayers (single, divorced, or widowed)
• €50,000 for jointly taxed couples (married or civil partners)

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Non-French Tax Resident

If you are not a French tax resident, you are subject to taxation in your country of residence. France may apply withholding tax on certain types of income, such as dividends, but bilateral tax treaties may reduce or eliminate this withholding in some cases.

Please contact us, inform us of your tax status, and provide proof of foreign taxation to avoid French withholding tax.

Spanish Tax Resident

Thanks to our accreditation as a European Crowdfunding Service Provider (ECSP), Enerfip enables you to invest in all our projects. However, specific rules may apply depending on the country of the issuing company.

If you invest in a project issued by a French company, your interest and capital gains will not be subject to double taxation, provided you submit a Spanish tax residency certificate.

Once approved, you will receive your income gross, taxable in Spain under the following rates:

• 19% up to €6,000
• 21% between €6,001 and €50,000
• 23% above €50,000

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Italian Tax Resident

As an Italian tax resident, income from sustainable investments made via Enerfip is taxable in Italy. To avoid double taxation, we recommend submitting your tax residency certificate.

Without it, a 30% withholding tax will be applied in France, in addition to the Italian rate of 26%.

Dutch Tax Resident

In the Netherlands, passive income is generally not taxed based on the actual amount received. Instead, it falls under “Box 3” of the Dutch tax system (wealth tax).

Bonds and other financial assets, including French sustainable investments made through Enerfip, are included in the calculation of your taxable wealth.

A deemed return is applied to this wealth, and a 36% tax rate is levied on this estimated return.

What does this mean? You do not pay tax on the actual interest received, but on a calculated return based on your total net assets.

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🔎 To go further:

Consult the Dutch tax system on the official government website: Rijksoverheid – Income Tax.

How Do I Obtain My Tax Residency Certificate (TRC)?

If you are a French tax resident, the process is simple. Your Tax Residency Certificate (TRC) is pre-filled and downloadable from your personal Enerfip account.

All you need to do is send it to the French tax authorities via the secure messaging service on your profile at impots.gouv.fr. Once signed and returned, upload it to your Enerfip account.

If you are a tax resident of another country, please contact your local tax office.

Where Can I Find My Tax Residency Certificate on Enerfip?

Depending on the progress of your application, your TRC may be located in different sections of your personal space:

• If signed, it is available under “Documents.”
• If pending validation, you will find it under “Tax status” within the “My account” section (click on your first name at the top left).

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You now know everything there is to know about the taxation of investments issued by a French company.

To invest in France, browse our project catalog!

Interested? Contact our Investor Relations team today by booking an appointment online, by phone at +33 4 11 93 41 11, or by email at [email protected].

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