{"id":23148,"date":"2026-11-08T12:55:50","date_gmt":"2026-11-08T11:55:50","guid":{"rendered":"https:\/\/balmontconseil.com\/conventions-fiscales\/madagascar\/interets\/"},"modified":"2026-11-08T17:36:20","modified_gmt":"2026-11-08T16:36:20","slug":"interets","status":"publish","type":"page","link":"https:\/\/balmontconseil.com\/en\/conventions-fiscales\/madagascar\/interets\/","title":{"rendered":"Vos int\u00e9r\u00eats de placements entre la France et Madagascar\u00a0: qui les impose\u00a0? 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16px;font-size:13px}#bcv{padding-bottom:64px}}#bcv{display:block;width:100vw;max-width:100vw;margin-left:calc(50% - 50vw);margin-right:calc(50% - 50vw);-webkit-text-fill-color:currentColor;text-align:left;padding-top:100px}@media(max-width:1239px){#bcv{padding-top:84px}}#bcv :where(*){-webkit-text-fill-color:currentColor}#bcv .btn.ghost{color:var(--dtext)!important;-webkit-text-fill-color:var(--dtext)!important}<\/style><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Quel est le plafond de la retenue sur les int\u00e9r\u00eats ?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"15 % du montant brut des int\u00e9r\u00eats, si la personne qui les re\u00e7oit en est le b\u00e9n\u00e9ficiaire effectif (article 11, paragraphe 2).\"}},{\"@type\":\"Question\",\"name\":\"L\u2019imp\u00f4t malgache sur mes int\u00e9r\u00eats est-il imputable en France ?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Oui : il ouvre droit \u00e0 un cr\u00e9dit d\u2019imp\u00f4t \u00e9gal \u00e0 l\u2019imp\u00f4t malgache per\u00e7u, plafonn\u00e9 au montant de l\u2019imp\u00f4t fran\u00e7ais aff\u00e9rent \u00e0 ces int\u00e9r\u00eats (article 22, paragraphe 2, b).\"}},{\"@type\":\"Question\",\"name\":\"Que se passe-t-il si les int\u00e9r\u00eats d\u00e9passent des conditions normales entre parties li\u00e9es ?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"L\u2019article 11 ne s\u2019applique qu\u2019au montant normal ; l\u2019exc\u00e9dent reste imposable selon la l\u00e9gislation de chaque \u00c9tat (article 11, paragraphe 5).\"}}]}<\/script><div id=\"bcv\" class=\"final\"><div class=\"wrap\">\n<div class=\"crumbs\"><a href=\"\/\">Accueil<\/a> \u203a <a href=\"\/conventions-fiscales\/\">Conventions fiscales<\/a> \u203a <a href=\"\/conventions-fiscales\/madagascar\/\">France\u2013Madagascar<\/a> \u203a Article 11 \u00b7 Int\u00e9r\u00eats<\/div>\n<div class=\"grid\"><main class=\"main\">\n<div class=\"meta\"><span class=\"pill mono\">Convention France\u2013Madagascar<\/span><span class=\"metaline\">Convention sign\u00e9e \u00e0 Tananarive le 22 juillet 1983, avec deux \u00e9changes de lettres du m\u00eame jour<\/span><\/div>\n<h1>Vos int\u00e9r\u00eats de placements entre la France et Madagascar\u00a0: qui les impose\u00a0? L\u2019article 11 de la convention franco-malgache<\/h1>\n<p class=\"lead\">Les int\u00e9r\u00eats sont imposables dans l\u2019\u00c9tat d\u2019o\u00f9 ils proviennent, dans la limite de 15 % du brut pour leur b\u00e9n\u00e9ficiaire effectif. Un r\u00e9sident de France est aussi impos\u00e9 en France, avec un cr\u00e9dit \u00e9gal \u00e0 l\u2019imp\u00f4t malgache plafonn\u00e9.<\/p>\n<div class=\"tags\"><a class=\"tag\" href=\"\/conventions-fiscales\/madagascar\/residence-fiscale\/\">R\u00e9sidence fiscale<\/a><a class=\"tag\" href=\"\/conventions-fiscales\/madagascar\/pensions-retraite\/\">Pensions de retraite<\/a><a class=\"tag\" href=\"\/conventions-fiscales\/madagascar\/fonction-publique\/\">Fonction publique<\/a><a class=\"tag\" href=\"\/conventions-fiscales\/madagascar\/revenus-immobiliers\/\">Revenus immobiliers<\/a><\/div>\n<div class=\"cover\"><img decoding=\"async\" src=\"https:\/\/balmontconseil.com\/wp-content\/uploads\/2026\/11\/convention-madagascar.webp\" alt=\"Morondava, Madagascar\" loading=\"eager\"><div class=\"cap\"><span class=\"chip mono\">Article 11 \u00b7 Int\u00e9r\u00eats<\/span><b>Morondava, Madagascar<\/b><\/div><\/div><div style=\"height:26px\"><\/div>\n<div class=\"card bref\"><span class=\"mono\">En bref<\/span><ul><li>Les int\u00e9r\u00eats provenant d\u2019un \u00c9tat et pay\u00e9s \u00e0 un r\u00e9sident de l\u2019autre sont imposables dans l\u2019\u00c9tat d\u2019o\u00f9 ils proviennent (article 11, paragraphe 1).<\/li><li>Si le b\u00e9n\u00e9ficiaire effectif les re\u00e7oit, l\u2019imp\u00f4t de cet \u00c9tat ne peut exc\u00e9der 15 % du montant brut (article 11, paragraphe 2).<\/li><li>Certains int\u00e9r\u00eats pay\u00e9s \u00e0 l\u2019autre \u00c9tat, \u00e0 une collectivit\u00e9 ou \u00e0 sa banque centrale au titre de cr\u00e9dits publics \u00e0 l\u2019exportation sont exon\u00e9r\u00e9s \u00e0 la source (article 11, paragraphe 3).<\/li><li>Un r\u00e9sident de France est impos\u00e9 en France sur le brut des int\u00e9r\u00eats malgaches, avec un cr\u00e9dit \u00e9gal \u00e0 l\u2019imp\u00f4t malgache, plafonn\u00e9 \u00e0 l\u2019imp\u00f4t fran\u00e7ais correspondant (article 22, paragraphe 2, b).<\/li><\/ul><\/div>\n<h2>Qui impose les int\u00e9r\u00eats\u00a0?<\/h2><div class=\"qt\"><div class=\"r h mono\"><span>Votre situation<\/span><span>Qui impose<\/span><span>Texte<\/span><\/div><div class=\"r\"><span>R\u00e9sident de France, int\u00e9r\u00eats de source malgache<\/span><span class=\"etat \">Madagascar 15 % maximum\u00a0; France avec cr\u00e9dit<\/span><span class=\"ref\">Art. 11 \u00a7 2 et 22 \u00a7 2 b<\/span><\/div><div class=\"r\"><span>R\u00e9sident de Madagascar, int\u00e9r\u00eats de source fran\u00e7aise<\/span><span class=\"etat fr\">France 15 % maximum\u00a0; exon\u00e9r\u00e9 \u00e0 Madagascar<\/span><span class=\"ref\">Art. 11 \u00a7 2 et 22 \u00a7 1<\/span><\/div><div class=\"r\"><span>Cr\u00e9dit public \u00e0 l\u2019exportation pay\u00e9 \u00e0 l\u2019\u00c9tat ou \u00e0 sa banque centrale<\/span><span class=\"etat \">Exon\u00e9r\u00e9 dans l\u2019\u00c9tat de la source<\/span><span class=\"ref\">Art. 11 \u00a7 3<\/span><\/div><div class=\"r\"><span>Cr\u00e9ance rattach\u00e9e \u00e0 un \u00e9tablissement stable ou une base fixe<\/span><span class=\"etat \">R\u00e8gle des b\u00e9n\u00e9fices ou des professions ind\u00e9pendantes<\/span><span class=\"ref\">Art. 11 \u00a7 4<\/span><\/div><\/div><div style=\"height:20px\"><\/div>\n<h2>Le texte de la convention<\/h2><div class=\"cit\"><div><span class=\"mono\">Article 11, paragraphes 1 et 2<\/span><p>\u00ab Les int\u00e9r\u00eats provenant d&#x27;un Etat et pay\u00e9s \u00e0 un r\u00e9sident de l&#x27;autre Etat sont imposables dans le premier Etat. 2. Toutefois, si la personne qui re\u00e7oit les int\u00e9r\u00eats en est le b\u00e9n\u00e9ficiaire effectif, l&#x27;imp\u00f4t ainsi \u00e9tabli ne peut exc\u00e9der 15 p. cent du montant brut des int\u00e9r\u00eats. \u00bb<\/p><\/div><\/div><div class=\"cit\"><div><span class=\"mono\">Article 11, paragraphe 3<\/span><p>\u00ab Nonobstant les dispositions des paragraphes 1 et 2, les int\u00e9r\u00eats provenant d&#x27;un Etat et pay\u00e9s \u00e0 l&#x27;autre Etat, l&#x27;une de ses collectivit\u00e9s territoriales ou \u00e0 la banque centrale de cet Etat en vertu d&#x27;une cr\u00e9ance \u00e0 taux privil\u00e9gi\u00e9 financ\u00e9e directement ou indirectement par un organisme public de financement du commerce ext\u00e9rieur de cet autre Etat sont exon\u00e9r\u00e9s d&#x27;imp\u00f4t dans le premier Etat. \u00bb<\/p><\/div><\/div><p class=\"note2\">Texte publi\u00e9 par impots.gouv.fr.<\/p>\n\n<h2>Ce qu\u2019ont jug\u00e9 les tribunaux<\/h2><div class=\"decs\"><a class=\"dec\" href=\"\/decisions\/dirigeant-installe-a-madagascar-epouse-et-enfant-en-france-residence-fiscale\/\"><div class=\"h\"><span class=\"pill mono\">CAA Toulouse<\/span><small>5 juin 2025<\/small><\/div><p>Dirigeant install\u00e9 \u00e0 Madagascar, \u00e9pouse et enfant en France\u00a0: r\u00e9sidence fiscale fran\u00e7aise et imposition des plus-values sur les titres Madarail et Vecturis encaiss\u00e9es \u00e0 Maurice<\/p><i>Lire la d\u00e9cision \u2192<\/i><\/a><a class=\"dec\" href=\"\/decisions\/francais-retraite-a-madagascar-vendant-un-bien-a-nantes-pas-d-exoneration-de-la\/\"><div class=\"h\"><span class=\"pill mono\">TA Nantes<\/span><small>17 mars 2023<\/small><\/div><p>Fran\u00e7ais retrait\u00e9 \u00e0 Madagascar vendant un bien \u00e0 Nantes\u00a0: pas d&#x27;exon\u00e9ration de la plus-value r\u00e9serv\u00e9e aux r\u00e9sidents ni de tol\u00e9rance pour les non-r\u00e9sidents ressortissants d&#x27;\u00c9tats tiers<\/p><i>Lire la d\u00e9cision \u2192<\/i><\/a><a class=\"dec\" href=\"\/decisions\/resident-de-madagascar-cedant-des-parts-de-sci-a-strasbourg-et-la-jaille-yvon\/\"><div class=\"h\"><span class=\"pill mono\">TA Montreuil<\/span><small>28 mars 2024<\/small><\/div><p>R\u00e9sident de Madagascar c\u00e9dant des parts de SCI \u00e0 Strasbourg et La Jaille-Yvon\u00a0: plus-value imposable en France, m\u00eame si l&#x27;une des soci\u00e9t\u00e9s d\u00e9tient des immeubles en cr\u00e9dit-bail<\/p><i>Lire la d\u00e9cision \u2192<\/i><\/a><\/div><a class=\"lnk\" href=\"\/conventions-fiscales\/madagascar\/#decisions\">Voir les 5 d\u00e9cisions qui concernent Madagascar \u2192<\/a>\n<div class=\"dark\"><span class=\"mono\">Ce que cela change pour vous<\/span><p>Un \u00e9pargnant r\u00e9sident de France qui place des fonds \u00e0 Madagascar peut subir une retenue malgache jusqu\u2019\u00e0 15 %, puis ne la r\u00e9cup\u00e8re en France qu\u2019\u00e0 hauteur de l\u2019imp\u00f4t fran\u00e7ais sur ces int\u00e9r\u00eats. \u00c0 l\u2019inverse, un r\u00e9sident de Madagascar qui garde des placements en France peut y \u00eatre impos\u00e9 \u00e0 la source dans la m\u00eame limite. Le rendement se compare apr\u00e8s imp\u00f4t dans les deux pays.<\/p><a class=\"btn\" href=\"https:\/\/app.balmontconseil.com\/rdv?utm_source=site&#038;utm_medium=convention&#038;utm_content=madagascar-interets-portee\"><svg viewBox=\"0 0 16 16\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\"><rect x=\"2\" y=\"3\" width=\"12\" height=\"11\" rx=\"2\"\/><path d=\"M2 7h12M5 1.5v3M11 1.5v3\"\/><\/svg>Faire v\u00e9rifier mes revenus de placement<\/a><span class=\"note\">Visio \u00b7 30 min \u00b7 sans engagement<\/span><\/div>\n<div class=\"card cv\" id=\"cv\"><span class=\"mono\" style=\"color:var(--muted);display:block;margin-bottom:12px\">Cela vous concerne ?<\/span><h3>Vous percevez des int\u00e9r\u00eats en France ou \u00e0 Madagascar\u00a0?<\/h3><div class=\"yn\"><a class=\"oui\" href=\"https:\/\/app.balmontconseil.com\/rdv?utm_source=site&#038;utm_medium=convention&#038;utm_content=madagascar-interets-oui\">Oui<\/a><button type=\"button\" onclick=\"document.getElementById('cv').classList.add('open')\">Non<\/button><\/div><div class=\"non\"><a href=\"\/conventions-fiscales\/madagascar\/residence-fiscale\/\">R\u00e9sidence fiscale<\/a><a href=\"\/conventions-fiscales\/madagascar\/pensions-retraite\/\">Pensions de retraite<\/a><a href=\"\/conventions-fiscales\/madagascar\/fonction-publique\/\">Fonction publique<\/a><a href=\"\/conventions-fiscales\/madagascar\/revenus-immobiliers\/\">Revenus immobiliers<\/a><a href=\"\/conventions-fiscales\/madagascar\/\">Convention France\u2013Madagascar : tous les sujets<\/a><a href=\"\/decisions\/\">Jurisprudence fiscale internationale<\/a><\/div><\/div>\n<h2>Les autres sujets de la convention<\/h2><div class=\"agrid\"><a href=\"\/conventions-fiscales\/madagascar\/residence-fiscale\/\"><small>Art. 4<\/small><b>R\u00e9sidence fiscale<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/pensions-retraite\/\"><small>Art. 18<\/small><b>Pensions de retraite<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/fonction-publique\/\"><small>Art. 19<\/small><b>Fonction publique<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/revenus-immobiliers\/\"><small>Art. 6<\/small><b>Revenus immobiliers<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/plus-values\/\"><small>Art. 13<\/small><b>Plus-values<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/dividendes\/\"><small>Art. 10<\/small><b>Dividendes<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/interets\/\" class=\"cur\"><small>Art. 11<\/small><b>Int\u00e9r\u00eats<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/salaires\/\"><small>Art. 15<\/small><b>Salaires<\/b><\/a><a href=\"\/conventions-fiscales\/madagascar\/double-imposition\/\"><small>Art. 22<\/small><b>Double imposition<\/b><\/a><\/div>\n<h2>Questions fr\u00e9quentes<\/h2><div class=\"faq\"><details open><summary>Quel est le plafond de la retenue sur les int\u00e9r\u00eats\u00a0?<\/summary><p>15 % du montant brut des int\u00e9r\u00eats, si la personne qui les re\u00e7oit en est le b\u00e9n\u00e9ficiaire effectif (article 11, paragraphe 2).<\/p><\/details><details><summary>L\u2019imp\u00f4t malgache sur mes int\u00e9r\u00eats est-il imputable en France\u00a0?<\/summary><p>Oui\u00a0: il ouvre droit \u00e0 un cr\u00e9dit d\u2019imp\u00f4t \u00e9gal \u00e0 l\u2019imp\u00f4t malgache per\u00e7u, plafonn\u00e9 au montant de l\u2019imp\u00f4t fran\u00e7ais aff\u00e9rent \u00e0 ces int\u00e9r\u00eats (article 22, paragraphe 2, b).<\/p><\/details><details><summary>Que se passe-t-il si les int\u00e9r\u00eats d\u00e9passent des conditions normales entre parties li\u00e9es\u00a0?<\/summary><p>L\u2019article 11 ne s\u2019applique qu\u2019au montant normal\u00a0; l\u2019exc\u00e9dent reste imposable selon la l\u00e9gislation de chaque \u00c9tat (article 11, paragraphe 5).<\/p><\/details><\/div>\n<p class=\"source\">Source : Convention sign\u00e9e \u00e0 Tananarive le 22 juillet 1983, avec deux \u00e9changes de lettres du m\u00eame jour \u2014 Convention avec Madagascar (impots.gouv.fr). Statut : En vigueur depuis le 1er octobre 1984\u00a0; elle a remplac\u00e9 la convention du 29 septembre 1962. Ce document ne se substitue pas aux textes qui font foi. Analyse : Balmont Conseil, mise \u00e0 jour le 8 novembre 2026. Information g\u00e9n\u00e9rale, pas un conseil personnalis\u00e9.<\/p>\n<\/main>\n<aside class=\"side\">\n<div class=\"ctacard\"><span class=\"mono\">Vous partez \u00e0 Madagascar ?<\/span><h3>Faire v\u00e9rifier mes revenus de placement\u00a0: un bilan de 30 minutes avec le cabinet.<\/h3>\n<div class=\"who\"><img decoding=\"async\" src=\"https:\/\/balmontconseil.com\/wp-content\/uploads\/2026\/11\/alexis-sagnier-carre.webp\" alt=\"Alexis Sagnier\" width=\"44\" height=\"44\" loading=\"lazy\"><div><b>Alexis Sagnier<\/b><span>Conseil en gestion de patrimoine \u00b7 ORIAS n\u00b0 13003497 \u00b7 ANACOFI-CIF<\/span><\/div><\/div>\n<a class=\"btn\" href=\"https:\/\/app.balmontconseil.com\/rdv?utm_source=site&#038;utm_medium=convention&#038;utm_content=madagascar-interets-side\"><svg viewBox=\"0 0 16 16\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\"><rect x=\"2\" y=\"3\" width=\"12\" height=\"11\" rx=\"2\"\/><path d=\"M2 7h12M5 1.5v3M11 1.5v3\"\/><\/svg>R\u00e9server un bilan de 30 min<\/a>\n<a class=\"btn ghost\" href=\"https:\/\/wa.me\/33601773296\" target=\"_blank\" rel=\"noopener\"><svg viewBox=\"0 0 16 16\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\"><path d=\"M8 14.5a6.5 6.5 0 1 0-5.6-3.2L1.5 14.5l3.3-.9A6.5 6.5 0 0 0 8 14.5Z\"\/><\/svg>\u00c9crire sur WhatsApp<\/a>\n<p class=\"trust\">Depuis 2013 \u00e0 Lyon \u00b7 Expatriation et patrimoines internationaux<\/p><\/div>\n<a class=\"diag\" href=\"\/diagnostic\/\"><div><b>Diagnostic express en 30 secondes<\/b><span>Cinq questions, la marche \u00e0 suivre pour votre situation.<\/span><\/div><i>\u2192<\/i><\/a>\n<div class=\"card\"><span class=\"mono\">D\u00e9cisions \u00b7 Madagascar<\/span><div class=\"rel\"><a href=\"\/decisions\/medecin-salarie-d-hopitaux-francais-se-disant-resident-malgache-domicilie-en\/\">M\u00e9decin salari\u00e9 d&#x27;h\u00f4pitaux fran\u00e7ais se disant r\u00e9sident malgache\u00a0: domicili\u00e9 en France par son activit\u00e9 principale, il est impos\u00e9 sur ses salaires et doit la majoration de 40 %<small>CAA Versailles, 3 avril 2025<\/small><\/a><a href=\"\/decisions\/installe-a-madagascar-mais-fille-scolarisee-en-france-residence-francaise\/\">Install\u00e9 \u00e0 Madagascar mais fille scolaris\u00e9e en France\u00a0: r\u00e9sidence fran\u00e7aise confirm\u00e9e, mais la plus-value en sursis sur des titres annul\u00e9s apr\u00e8s faillite n&#x27;est pas imposable faute de valeur<small>CAA Paris, 20 janvier 2026<\/small><\/a><\/div><\/div>\n<div class=\"card\"><span class=\"mono\">Aller plus loin<\/span><div class=\"more\"><a href=\"\/conventions-fiscales\/madagascar\/\">Convention France\u2013Madagascar : tous les sujets<\/a><a href=\"\/conventions-fiscales\/\">Toutes les conventions fiscales<\/a><a href=\"\/diagnostic\/\">Diagnostic express : o\u00f9 en est votre projet ?<\/a><\/div><\/div>\n<\/aside>\n<\/div><\/div>\n<div class=\"sticky\"><span>Vous partez \u00e0 Madagascar ?<\/span><a href=\"https:\/\/app.balmontconseil.com\/rdv?utm_source=site&#038;utm_medium=convention&#038;utm_content=madagascar-interets-sticky\">Bilan de 30 min<\/a><\/div><\/div><script>(function(){var r=document.getElementById('bcv');if(!r)return;function clean(){r.removeAttribute('data-bml-bg');r.removeAttribute('data-bml-t');var l=r.querySelectorAll('[data-bml-bg],[data-bml-t]');for(var i=0;i<l.length;i++){l[i].removeAttribute('data-bml-bg');l[i].removeAttribute('data-bml-t');}}clean();new MutationObserver(function(m){for(var i=0;i<m.length;i++){if(\/^data-bml-\/.test(m[i].attributeName||'')){clean();break;}}}).observe(r,{attributes:true,subtree:true,attributeFilter:['data-bml-bg','data-bml-t']});window.addEventListener('load',function(){clean();setTimeout(clean,1300);setTimeout(clean,2500);});})();<\/script>","protected":false},"excerpt":{"rendered":"<p>Accueil \u203a Conventions fiscales \u203a France\u2013Madagascar \u203a Article 11 \u00b7 Int\u00e9r\u00eats Convention France\u2013MadagascarConvention sign\u00e9e \u00e0 Tananarive le 22 juillet 1983, avec deux \u00e9changes de lettres du m\u00eame jour Vos int\u00e9r\u00eats de placements<span class=\"excerpt-hellip\"> 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