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If it is more advantageous for you,
you can choose to have your capital
gains taxed under the ordinary income
tax regime (progressive scale)
• This choice can be made when you fill out your tax
return. This option applies to a single year.
• The option is irreversible and applies to all the income that
falls within the scope of the PFU (i.e. including dividends
and capital gains on the sale of shares).
• Under this option, capital gains subject to income tax
can benefit from a tax allowance based on the holding
period of the shares, provided that the shares sold were
acquired before January 1, 2018. The tax allowance rate
is as follows:
HOLDING PERIOD ALLOWANCE
Less than 2 years 0%
Between 2 and 8 years 50%
More than 8 years 65%
• The holding period is counted from the date on which
the shares were acquired.
NB The allowance does not apply to shares bought as
from January 1 2018
Capital gains must be reported
in your annual tax return
Your capital gains are considered as income and must be
reported in your annual tax return, whatever the taxation
regime chosen.
If your bank does not calculate them for you, you are
responsible for doing so and for reporting the results in
your tax return.
© S C H I N C A R I O L M i g u e l - T o t a l E n e r g i e s
1.2 1.3
Capital gains on the sale of shares
are subject to social contributions
• Capital gains are subject to social contributions at an
overall rate of 17.2%.
Social contributions are due on the net capital gain
ie capital gain offset by capital loss of the same nature
incurred during the same year or the last 10 years
without any allowance for holding period
The amounts due are determined by assessment on the
basis of the 2024 tax return that you will fill out in 2025
the tax authorities will send you an assessment of the
amounts due
For capital gains realized in 2024 68 of the CSG is
deductible from the total taxable income of the year the
CSG is paid provided election is made for taxation under
the ordinary income tax regime progressive scale
1.4
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