If you have a passbook or an interest-bearing savings account, a home savings account more than twelve years old, a home savings account (CEL), an ordinary securities account, you have probably received a letter from your bank telling you inviting them to formulate an exemption from direct debit. What is it about ?
When they are collected, interest on savings accounts, bonds and dividends are automatically subject to a flat-rate deduction of 12.8%, to which are added 17.2% of social security deductions.
Taxpayers whose income does not exceed certain thresholds may request to be exempted from this levy.
At each establishment
For dividends received in 2023, this exemption is intended for those whose reference tax income for 2021 is less than 50,000 euros (single person) or 75,000 euros (married or PACS couples).
For interest received in 2023, this exemption is intended for taxpayers whose reference tax income for 2021 is less than 25,000 euros (single person) and 50,000 euros (married or PACS couples)
You must send your request no later than Wednesday, November 30 to your bank. However, if you buy securities or units of funds invested in shares after this date, you can make your request after this date, when purchasing or subscribing to the securities.
If you have several banks, you must apply to each establishment. This request is also only valid for income received in 2023 and will have to be renewed at the end of 2023 (for income received in 2024), if you are still below the income threshold and want to continue to be exempt from the 12.8 %.
Sworn statement
All you have to do is complete a sworn statement indicating that your reference tax income is well below the thresholds in force. Most institutions have pre-filled forms available to you.
This request for exemption does not change the amount of tax to be paid but avoids you having to advance the levy, if you are taxable, or paying an amount that will be refunded to you during the summer of 2024 if you are not taxable.
In practice, it is interesting for those who know that when filing their tax return they will waive the single flat-rate deduction of 12.8% to opt for taxation for the progressive scale of income tax (in ticking the 2OP box). This is particularly the case for taxpayers who are not taxable or taxable in the first bracket at 11%.
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