Overview
- The reform broadens the property-based IFI into a levy on non‑productive wealth that covers real estate plus luxury goods, vehicles, yachts, artworks, planes, cryptocurrencies, cash and certain financial assets, with the primary residence exempt up to €1 million and business assets and unit‑linked life insurance excluded.
- The progressive IFI scale is replaced by a single 1% rate applied above a €1.3 million threshold.
- The text passed the National Assembly through an unusual alliance of RN, PS, MoDem and Liot, drawing opposition from much of the left outside PS and criticism from government allies.
- The fiscal yield remains unclear, with the Economy and Finance Ministry conducting a formal estimate as PS claims a €2 billion gain and LFI warns of a possible drop.
- In the same session, deputies tightened the Dutreil pact for business succession by narrowing eligible assets, extending the minimum holding period from six to eight years and requiring at least one beneficiary to be aged 18 to 60.