442 MISC. PUBLICATION 218, U. 8. DEPT. OF AGRICULTURE 
mined directly on the basis of a suitable rate of interest on the market 
value of the property. 
In the case of other lands (propriétés non baties) the taxable in- 
come is assessed according to a tariff based on the kind of crop and 
its class, every kind of crop being divisible into several classes accord- 
ing to the fertility of the soil. 
The assessments thus made are in principle reviewed every 10 
years in the case of buildings, and every 20 years in the case of lands. 
During the interval between revisions they remain unchanged. 
The rate of the national tax is 16 percent of the taxable income 
from both buildings and lands. 
TAX ON INCOME FROM INTANGIBLE PERSONAL PROPERTY 
The tax on income from intangible personal property comprises 
the tax on income from securities (valeurs mobiliéres) and the tax 
on income from loans, deposits, and cash-security (créances, dépéts, 
et cautionnements). 
The tax on income from transferable securities 1s imposed on (1) 
the income from capital invested in companies in the form of shares 
or other holdings; (2) the income from capital loaned to companies 
and public corporations; and (3) the emoluments of directors of com- 
panies with share capital. As a general rule, this tax is deducted at 
the source; companies and corporations must pay it in advance and 
recover from the recipients of the income. 
The tax on income from debts, deposits, and cash security is levied 
upon all income from personal property which is not liable to the 
tax on income from transferable securities. It is not deducted at the 
source, but must be paid personally by the recipient of the income. 
The regular rate on all of these classes of personal property income 
is 16 percent, with a somewhat higher rate applicabie to director’s 
fees, income from certain foreign securities, and bond-lottery win- 
nings. 
PROPORTIONAL CHARGE ON MINES 
The proportional charge on mines is a tax payable on profits from 
the operation of mining concessions located in France. 
In the case of French corporations lable for the tax on income 
from transferable securities which work mines only in France and 
whose principal object is the working of those mines, the taxable 
profits are, as a rule, fixed arbitrarily (forfaitairement) at the amount 
declared for distribution during the year previous to the year of the 
tax in dividends or any other form of payment—in other words, at a 
figure equal to that taken for the assessment of the tax on income 
from securities payable by the corporations on behalf of the re- 
cipients. 
In the case of other mining concerns (whether operated by a 
private person or a corporation), the taxable net profit is the differ- 
_ ence between the income actually received during the year previous 
to the year of the tax and the expenditures during the same year, 
that income including not only the proceeds of the sale of minerals 
extracted and sold, but also the value of the quantity consumed by 
the concern. 
The rate of this tax is 25 percent. 
