Quote:
Originally Posted by giantpanda
If you earn Euro 50,000( sum declarable which is different to your earnings - ask employer ) a year ( and have no other income - you have to declare your world income ) and you are single, you would pay for a full year: Euro 8260 income tax.
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Thanks giantpanda! That's useful to know, since I am considering something that is financially in almost the same position (just not Paris, a bit further south).
I have a question to follow that up.
you say that's 8260€ a year in French tax on a 50000€ a year salary, which amounts to only about 16.5% of the total income! Far lower than the 50%+ tax rates my pro-American In-Laws have warned that the French will charge if we move away...
However, I don't know if I understand it all correctly. Correct me where I'm wrong here; there is approximately 21% of your paycheck immediately withheld/taken for "social charges" at the time your paid, once per month. That is not considered "taxes." Then, at years end, you are to pay some fixed "tax" on your annual income, which in this case is estimated to be 8260€ due on a 50000€ a year salary.
For quick approximation, that's roughly 4000€ a month GROSS salary, of which you might get a check for the amount of about 3160€. Of the remaining 3160€, you would be best advised to set aside 689€ for your taxes (which come due with your filing at the beginning of the next calender year). Leaving you 2471€ a month of "spendable" NET income per month from your 4000€ a month GROSS salary.
Am I even close to correct?