The French National Assembly has adopted a new amendment which
will see a flat tax rate of 30% applied to gains from Bitcoin and
other crypto-based assets.
The measure has attracted luke-warm reception from France’s
Bitcoin community. On the one hand, the initiative is being praised
for its simplification of what has been a complicated fiscal landscape
for Bitcoin holders up until now.
On the other hand, some critics point out that France remains at the
upper end of the taxation spectrum for crypto-currencies in a
European context.
Eric Woerth
@ericwoerth
Jusqu'à présent la fiscalité des gains tirés de la
cession de crytpoactifs était dans le grand flou. Ce matin
la commission des finances a adopté un de mes
amendements visant à les soumettre au PFU à 30% pour
plus de clarté #PLF2019 #FinancesAN
46 2:53 PM - Nov 7, 2018
56 people are talking about this
Under the new arrangement which comes into effect on January 1
2019, Bitcoin will fall under France’s existing PFU ( Prélèvement
Forfaitaire Unique ) fiscal regime – originally designed as a
simplified tax framework with a flat rate of 30% for dividend
payments, interest returns and capital gains from long-term
investments.
Under the previous arrangement, crypto holdings of up to €5000 were
exempt from any taxation, after which a variable rate could apply –
averaging around 36% – depending on a myriad of factors which have
been the source of major frustrations for some of France’s crypto
community.
There is no change for tax residents who realise gains from active
trading of or payments in Bitcoin and other crypto-currencies.
will see a flat tax rate of 30% applied to gains from Bitcoin and
other crypto-based assets.
The measure has attracted luke-warm reception from France’s
Bitcoin community. On the one hand, the initiative is being praised
for its simplification of what has been a complicated fiscal landscape
for Bitcoin holders up until now.
On the other hand, some critics point out that France remains at the
upper end of the taxation spectrum for crypto-currencies in a
European context.
Eric Woerth
@ericwoerth
Jusqu'à présent la fiscalité des gains tirés de la
cession de crytpoactifs était dans le grand flou. Ce matin
la commission des finances a adopté un de mes
amendements visant à les soumettre au PFU à 30% pour
plus de clarté #PLF2019 #FinancesAN
46 2:53 PM - Nov 7, 2018
56 people are talking about this
Under the new arrangement which comes into effect on January 1
2019, Bitcoin will fall under France’s existing PFU ( Prélèvement
Forfaitaire Unique ) fiscal regime – originally designed as a
simplified tax framework with a flat rate of 30% for dividend
payments, interest returns and capital gains from long-term
investments.
Under the previous arrangement, crypto holdings of up to €5000 were
exempt from any taxation, after which a variable rate could apply –
averaging around 36% – depending on a myriad of factors which have
been the source of major frustrations for some of France’s crypto
community.
There is no change for tax residents who realise gains from active
trading of or payments in Bitcoin and other crypto-currencies.
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