The Finance Committee of the lower house of French parliament has
adopted amendments to a tax bill that ease taxes on cryptocurrency
sales, daily French newspaper Le Figaro reports Wednesday, Nov. 7.
The amendments adopted by Finance Committee of the National
Assembly refer to a draft of the government finance bill (PLF) for
2019. If the final version of the document is approved by a broader
parliament, whose hearings are scheduled for next week, the tax on
crypto sales will be equal to capital income tax.
Currently crypto income is taxed at a rate of 36.2 percent. If the
amendments to the budget are accepted, the rate will be reduced to 30
percent starting Jan. 1, 2019.
The French government has actively adjusted legislation to accommodate
new technologies, including digital currencies and blockchain .
President Emmanuel Macron once said he would like France to become a
"startup nation," while France’s Minister for the Economy and
Finance Bruno le Maire claimed that the country was ready for a
“blockchain revolution.”
In September, Mair announced that the government had accepted a legal
framework for Initial Coin Offerings ( ICO ). Under the new
regulations, the French stock markets regulator Autorité des marchés
financiers (AMF) is empowered to issue licenses to companies that aim
to raise funds via an ICO. The legislation also offers several
protections for investors.
In the meantime, the government is still finalizing PACTE — the
Action Plan for Business Growth and Transformation. The bill contains
some relevant changes for the French regulatory framework with regard
to crypto assets and ICOs.
adopted amendments to a tax bill that ease taxes on cryptocurrency
sales, daily French newspaper Le Figaro reports Wednesday, Nov. 7.
The amendments adopted by Finance Committee of the National
Assembly refer to a draft of the government finance bill (PLF) for
2019. If the final version of the document is approved by a broader
parliament, whose hearings are scheduled for next week, the tax on
crypto sales will be equal to capital income tax.
Currently crypto income is taxed at a rate of 36.2 percent. If the
amendments to the budget are accepted, the rate will be reduced to 30
percent starting Jan. 1, 2019.
The French government has actively adjusted legislation to accommodate
new technologies, including digital currencies and blockchain .
President Emmanuel Macron once said he would like France to become a
"startup nation," while France’s Minister for the Economy and
Finance Bruno le Maire claimed that the country was ready for a
“blockchain revolution.”
In September, Mair announced that the government had accepted a legal
framework for Initial Coin Offerings ( ICO ). Under the new
regulations, the French stock markets regulator Autorité des marchés
financiers (AMF) is empowered to issue licenses to companies that aim
to raise funds via an ICO. The legislation also offers several
protections for investors.
In the meantime, the government is still finalizing PACTE — the
Action Plan for Business Growth and Transformation. The bill contains
some relevant changes for the French regulatory framework with regard
to crypto assets and ICOs.
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