Above 1 000 for single people 2 000 for a couple making a joint income tax

return capital gains are taxed at a flat rate of 25 plus the additional solidarity

tax of 5 5 taking the total levy to 26 375 and where applicable the church tax

or if you opt to at your applicable income tax rate

Capital gains may be taxed in your country of residence . You need to contact

the tax authorities of your country of residence or your tax advisor to obtain

more information about your particular situation .

IN GERMANY

A FEW EXAMPLES

N B Losses incurred on the sale of shares acquired since

January 1 2009 can be offset against gains derived from

the sale of shares acquired from that date

38

02

You are a foreign

tax resident

YOUR CAPITAL GAINS

ARE EXEMPT FROM INCOME

TAX IN FRANCE

THE TAX SYSTEM

OF YOUR COUNTRY

OF RESIDENCE APPLIES

CAPITAL GAINS TAXATION FOR SHARES

NOT HELD IN A PEA ( CONTINUED )

T H E C O M P A N Y E D I T O R I A L T H E T O T A L E N E R G I E S S H A R ET H E T A X A T I O N S H A R E H O L D E R R E L A T I O N S