ARTICLE
27 January 1995

Transfer Duties On Quoted Securities

SA
SG Archibald Andersen

Contributor

SG Archibald Andersen
France Employment and HR
The Administration, in an instruction of 28 october 94, 7 G-5-94, clarifies the notion of "average market price on the day of transfer" provided for by Article 759 of the French General Tax Code for the valuation of quoted securities in respect of the settlement of transfer duties where no consideration passes (gifts, inheritance). The term average price means the average of the highest and the lowest prices of the market session considered or by default the only price quoted, if there was only one price.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. For additional information contact Claire Acard on +33 (1) 55 61 10 10. The members of ARCHIBALD ANDERSEN Association d'Avocats (S.G. Archibald and Arthur Andersen International) are registered with the Hauts-de-Seine Bar.
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