Decisions of the Court of Cassation dated November 6, 2024

Yesterday, the Court of Cassation issued two tax rulings concerning:

- the application of Article L.23 C of the LPF and Article 755 of the CGI, and the justification of the origin of assets held abroad. The Court of Cassation clarifies that when a taxpayer demonstrates that a portion of their assets derives from interest earned on a foreign bank account, such assets do not constitute assets acquired gratuitously: Cass. com., Nov. 6, 2024, No. 23-15.183, Published

- the exemption from transfer taxes in the event of a commitment to resell within five years, as provided for in Article 1115 of the General Tax Code. The Court specifies that failure to comply with the commitment results in the obligation to pay, within the month following (i) either the breach of the commitment or (ii) the expiration of the deadline for submitting the required proof, the taxes plus late-payment interest. Late payment interest is calculated“from the first day of the month following the month in which the tax was due until the last day of the month of payment”: Cass. com., Nov. 6, 2024, No. 23-11.616, Published