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Income Tax - Savings and Investment Income
Verified 10 April 2025 - Directorate for Legal and Administrative Information (Prime Minister)
You earn investment income and want to know how to report it? Regulated savings books (Livret A, Livret de développement durable, etc.) are exempt from tax. For other investments, taxation varies according to whether they are fixed (bonds, debt securities, etc.) or variable (shares and business shares). Share savings plan Special schemes are provided for certain investments, in particular for life insurance and for the provision of insurance. We provide you with what you need to know for investment income in 2024 and 2025.
What applies to you ?
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Revenues 2024
These revenues are to be reported on your 2025 income tax return for 2024 in spring 2025.
Taxable income
Revenues from the following investments are taxable :
- Government bonds and loans
- Bonds issued by legal persons governed by public law (department, municipality, etc.)
- Deposit accounts and term accounts
- Taxed bank books
- Treasury bills and cash bills
- Marketable debt instruments (commercial paper, certificate of deposit, etc.)
- Shares in debt mutual funds.
Taxation
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
Statement
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Taxable income
Income from shares in businesses subject to business tax are taxable.
These revenues are called, as the case may be, dividends or distributed income.
Taxation
The dividends are subject to tax.
To determine its value, you can choose between the single lump sum levy (flat tax) and the progressive scale.
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Single flat-rate option
The income shall be subject to a single flat-rate levy of 30% (also called flat tax).
This levy consists of income tax (12.8%) and social security contributions (17.2%).
Schedule Option
You can choose the progressive scale of income tax, depending on your marginal tax bracket.
You can then benefit from a abatement of 40% on your dividends.
You must also pay the social security contributions (17.2%).
Statement
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Taxation depends on when your ELP opens.
Répondez aux questions successives et les réponses s’afficheront automatiquement
PEL opened since 2018
Interest earned in 2024 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
Statement
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
PEL opened before 2018
Taxation depends on the age of your PEL.
PEL 12 years of age or younger
The interest of an ELP under 12 years of age is exempt.
PEL opened more than 12 years ago
Interest earned in 2024 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
Statement
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Taxation depends on the date your CEL is opened.
Répondez aux questions successives et les réponses s’afficheront automatiquement
CEL since 2018
Interest earned in 2024 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
Statement
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
CEL opened before 2018
The interests of a CEL open before 1er january 2018 are exempt.
Taxation of income (dividends and capital gains) of the PEA depends on the date of your withdrawals.
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Withdrawal or redemption after 5 years
AAP revenues
In the absence of withdrawal or redemption within 5 years after your 1er remittance, you are exempt income tax.
However, the exemption from income on unlisted securities held in an AEP is limited each year to 10% the amount of such securities.
FYI
The revenues of the PEA are subject to the 17.2% of social security contributions (CSG, CRDS).
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Annuity Exit
The life annuity paid after the expiry of 5e EAP year is exempt income tax.
FYI
Life annuity is subject to 17.2% of social security contributions (CSG, CRDS).
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Withdrawal or redemption before 5 years
If you have made a withdrawal or redemption before the 5 years of your AAP, the net gain realized since the opening of the plan is imposed.
The net gain is the difference between:
- NAV of the AAP at the date of withdrawal
- Payments made to the plan since it was opened.
You can choose one of the following 2 methods of taxation:
- Flat-rate flat-rate levy (PFU) of 30% (also called flat tax)
- Progressive scale income tax.
The income is subject to a flat-rate levy (PFU) of 30% (also called flat tax).
This levy consists of income tax (12.8%) and social security contributions (17.2%).
You can opt for the progressive scale of income tax, according to your marginal tax bracket.
You will need to pay the social security contributions (17.2%).
In some situations, early withdrawals benefit from exemption, in particular in the following cases:
- Death of plan holder
- Allocation of funds to finance the creation or takeover of a company, subject to conditions.
Please note
Social security contributions (CSG, CRDS) at the rate of 17.2% remain due.
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
The amounts paid by your employer in application of a wage savings plan are exempt income tax.
FYI
Income from movable property is subject to 17.2% of social security contributions (CSG, CRDS), with exceptions.
Taxation of life insurance contracts depends on the age of the contract at the time of withdrawal and the date of payment of the premiums.
FYI
Life insurance earnings are subject to 17.2% of social security contributions (CSG, CRDS).
The climate futures savings plan (PEAC) is reserved for young people under the age of 21 who reside in France.
It makes it possible to invest in the financial securities of businesses or organizations that finance projects in the field of the green transition.
The money saved in the Climate Future Savings Plan (PEAC) can yield gains when the value of the securities in which it was invested rises.
These gains are tax-exempt on income and social security contributions.
FYI
You must indicate the amount of your exempt earnings on your income tax return.
Revenues from the following investments are exempt income tax:
- Booklet A
- Young booklet
- Popular savings booklet (SMP)
- Sustainable development booklet (SDL).
FYI
These revenues are exempt of social security contributions.
Taxation upon withdrawal from the retirement savings agreement depends on the type of retirement savings agreement entered into:
- Individual Retirement Savings Plan (PER)
- Company Retirement Savings Plan (Father)
- Group company Retirement Savings Plan (Pereco)
- Mandatory company Retirement Savings Plan (Pero)
- People's Retirement Savings Plan Perp
- Group Retirement Savings Plan (Perco
- Optional schemes Prefon, Corem and CGOS.
Taxation also depends on:
- Payment in rent or capital
- Withdrawal at the time of retirement or early retirement
- Tax deduction of contributions paid or no tax deduction of those contributions.
Revenues 2025
These revenues are not required to be reported on your 2025 income tax return for 2024. They will have to be declared at the 2026 income tax return for 2025.
Taxable income
Revenues from the following investments are taxable :
- Government bonds and loans
- Bonds issued by legal persons governed by public law (department, municipality, etc.)
- Deposit accounts and term accounts
- Taxed bank books
- Treasury bills and cash bills
- Marketable debt instruments (commercial paper, certificate of deposit, etc.)
- Shares in debt mutual funds.
Taxation
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
You can apply to be exempt from the flat-rate levy without discharge if your reference tax income of the penultimate year is less than:
- €25,000 if you're single
- €50,000 for a married or former couple subject to common taxation.
For revenues received in 2025, this is the 2023 benchmark tax revenue.
The application is to be sent to the financial institution that pays you the income no later than November 30 of the year preceding that of the payment (November 30, 2025 for an exemption in 2026).
In general, the institution will send you an honorary attestation form to return to the institution if you meet the conditions.
Taxable income
Income generated by shares and business shares subject to business tax are taxable.
These revenues are called, as the case may be, dividends or distributed income.
Taxation
The dividends are subject to tax. To determine its value, you can choose between the flat tax and the progressive scale.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
You can apply to be exempt from the flat-rate levy without discharge if your reference tax income the penultimate year is less than the following amount:
- €50,000 if you're single
- €75,000 for a married or former couple subject to common taxation.
For revenues received in 2025, this is the 2023 benchmark tax revenue.
The application is to be sent to the financial institution that pays you the income no later than November 30 of the year preceding that of the payment (November 30, 2025 for an exemption in 2026).
In general, the institution will send you an honorary attestation form to return to the institution if you meet the conditions.
Taxation depends on when your ELP opens.
Répondez aux questions successives et les réponses s’afficheront automatiquement
PEL opened since 2018
Interest earned in 2025 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
PEL opened before 2018
Taxation depends on the age of your PEL.
PEL 12 years of age or younger
The interest of an ELP under 12 years of age is exempt.
PEL opened more than 12 years ago
Interest earned in 2025 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
Taxation depends on the date your CEL is opened.
Répondez aux questions successives et les réponses s’afficheront automatiquement
CEL since 2018
Interest earned in 2025 is taxable.
You can opt for one of the following tax systems:
- Single flat-rate levy (PFU) of 30% (also called flat tax)
- Tax scale in income.
If you choose the single flat-rate levy (PFU), your income will be taxed at the 30%.
This levy consists of income tax (12.8%) and social security contributions (17.2%).
If you opt for the UCP, you cannot benefit from the following:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
If you choose the progressive scale of income tax, your property income will be taxed according to your marginal tax bracket.
You will also need to pay the social security contributions (17.2%).
Opting for progressive scale taxation allows you to benefit from the following advantages:
- Abatement of 40% on dividends
- Deductibility of part of the CSG: titleContent
- Deductibility of costs and charges.
Warning
The option applies to all of your income from your investments and gains from disposals of securities.
You can make your choice depending on your tax rate:
- If you are non-taxable or taxed at 11%, this rate is more favorable than the rate for the 12.8%.
- If you are taxed at 30% or more, the rate of the UCP at 12.8% is more favorable.
FYI
If you do not specify your choice, your income is subject to the UCP.
CEL opened before 2018
The interests of a CEL open before 1er january 2018 are exempt.
Taxation of income (dividends and capital gains) of the PEA depends on the date of your withdrawals.
Répondez aux questions successives et les réponses s’afficheront automatiquement
Withdrawal or redemption after 5 years
AAP revenues
In the absence of withdrawal or redemption within 5 years after your 1er remittance, you are exempt income tax.
However, the exemption from income on unlisted securities held in an AEP is limited each year to 10% the amount of such securities.
FYI
The revenues of the PEA are subject to the 17.2% of social security contributions (CSG, CRDS).
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Exit in life annuity
The life annuity paid after the expiry of 5e EAP year is exempt income tax.
FYI
Life annuity is subject to 17.2% of social security contributions (CSG, CRDS).
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
Withdrawal or redemption before 5 years
If you have made a withdrawal or redemption before the 5 years of your AAP, the net gain realized since the opening of the plan is imposed.
Net gain is the difference between:
- NAV of the AAP at the date of withdrawal
- Payments made to the plan since it was opened.
You can choose one of the following 2 methods of taxation:
- Flat-rate flat-rate levy (PFU) of 30% (also called flat tax)
- Progressive scale income tax.
The income is subject to a flat-rate levy (PFU) of 30% (also called flat tax).
This levy consists of income tax (12.8%) and social security contributions (17.2%).
You can opt for the progressive scale of income tax, according to your marginal tax bracket.
You will need to pay the social security contributions (17.2%).
In some situations, early withdrawals benefit from exemption, in particular in the following cases:
- Death of plan holder
- Allocation of funds to finance the creation or takeover of a company, subject to conditions.
Please note
Social security contributions (CSG, CRDS) at the rate of 17.2% remain due.
To make your tax return, you can view the following documents:
- Explanatory notes (in particular income from securities and transferable capital)
- Practical Income Tax Brochure
- Supporting documents submitted by paying institutions (IFU form).
If a pre-filled amount is inaccurate, you must correct or complete it.
The amounts paid by your employer in application of a wage savings plan are exempt income tax.
FYI
Income from movable property is subject to 17.2% of social security contributions (CSG, CRDS) with exceptions.
Taxation of life insurance contracts depends on the age of the contract at the time of withdrawal and the date of payment of the premiums.
FYI
Life insurance earnings are subject to 17.2% of social security contributions (CSG, CRDS)
The climate futures savings plan (PEAC) is reserved for young people under the age of 21 who reside in France.
It makes it possible to invest in the financial securities of businesses or organizations that finance projects in the field of the green transition.
The money saved in the Climate Future Savings Plan (PEAC) can yield gains when the value of the securities in which it was invested rises.
These gains are tax-exempt on income and social security contributions.
FYI
You must indicate the amount of your exempt earnings on your income tax return.
Revenues from the following investments are exempt income tax:
- Booklet A
- Young booklet
- Popular savings booklet (SMP)
- Sustainable development booklet (SDL).
FYI
These revenues are exempt of social security contributions.
Taxation upon withdrawal from the retirement savings agreement depends on the type of retirement savings agreement entered into:
- Individual Retirement Savings Plan (PER)
- Company Retirement Savings Plan (Father)
- Group company Retirement Savings Plan (Pereco)
- Mandatory company Retirement Savings Plan (Pero)
- People's Retirement Savings Plan Perp
- Group Retirement Savings Plan (Perco
- Optional schemes Prefon, Corem and CGOS.
Taxation also depends on:
- Payment in rent or capital
- Withdrawal at the time of retirement or early retirement
- Tax deduction of contributions paid or no tax deduction of those contributions.
Who can help me?
Find who can answer your questions in your region
For general information
Tax Information Service
By telephone:
0809 401 401
Monday to Friday from 8:30 am to 7 pm, excluding public holidays.
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