The acquirer of a financial instrument is subject to French FTT. However, DEGIRO automatically calculates, withholds, reports and pays the French FTT due.
French FTT applies to certain shares, or similar instruments, issued by French tax resident companies with a market cap of at least €1 billion (as of 1 December of the preceding year) as well as certain instruments representing these shares. In addition, the instrument must be admitted for trading on a French, European or foreign regulated market. For the list of companies in the scope of French FTT (as of 2019) you can click here.
The taxable event is the purchase transaction as well as the acquisition as a result of the exercising or assignment of a derivative position. This means that the purchase of a call option is not subject to FTT, whereas the acquisition of the underlying stock upon exercise of an option is subject to FTT.
The tax rate for French FTT is 0.30% (as of 2020) and is calculated on the transaction value. Intraday transactions per financial instrument are netted.
At DEGIRO we process the intraday netting at the end of the day. This means that during the day, all acquisitions are taxed in full and any potential refund will be credited after market close.