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“Finance law: Taxation of life insurance”
Update on the taxation and taxation of life insurance, both for interest, income or capital gains and for inheritance taxes.
From a fiscal point of view, it is important to distinguish and understand the mechanisms specific to life insurance contracts, which determine the taxable base, the amount of social contributions, income tax or flat-rate taxation as well as the rights of succession.
The taxable base
The taxable base, that is to say the amount subject to social security contributions and income tax (or flat-rate taxation) depends on the partial or total nature of the redemption.
With one important note: social security contributions are subject to a specific compensation system for euro compartments of multi-support contracts. See CSG and life insurance: multi-vehicle contracts.
Whatever the duration and nature of the contract, life insurance products are subject to social security contributions (CSG, CRDS, etc.). But the rates vary according to the date on which these products were acquired. See The CSG on life insurance contracts
When they are taxable, the products of life insurance contracts, or at least their taxable base, are subject either to the progressive scale of income tax, or to a flat-rate taxation, the rate of which depends on the duration of the contract and payment dates. See Life insurance: income tax and flat tax
The inheritance tax applicable to life insurance contracts depends on the date of opening of the contract but also on the amount of sums thus transferred. See Life and Estate Insurance