Hi, I bought a French leaseback property ten years ago and recently sold it to cut my losses, which were in the region of 60%. As with all leasebacks, I was given a refund of the VAT on purchase, contingent on staying in the leaseback arrangement for twenty years. My French accountant has now advised me that I must make a pro rata repayment of 13,000 to French revenue for VAT. Having been roasted in what I have come to view as little more than a state-sponsored scam, I am reluctant to make this payment.
Does anyone have a similar experience? In practical terms, what powers do French Revenue have to pursue for this money, and are they likely to pursue me?
Does anyone have a similar experience? In practical terms, what powers do French Revenue have to pursue for this money, and are they likely to pursue me?