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French Tax Regulations in Crypto – Proposals Rejected

French Tax Regulations in Crypto - Proposals Rejected

There have been several proposals to decrease taxes in the crypto space in France but the National Assembly has rejected each one – none of which were able to pass the lower house of the national legislature. Several proposed tax changes were presented to adjust the French tax code, mainly slight changes but it seems that in the current environment in France with President Macron under pressure – there have been protests in the streets – nothing will pass. The French state needs tax revenue and these crypto requests are just victims of bad timing. 

One proposal, Amendment 399 was designed to make distinctions between the occasional usage of crypto assets with routine transactions. Another amendment was an idea to defer payment of capital gains taxes until crypto is turned into fiat, but again this proposal was rejected as well. Currently, the President is cutting loopholes and at the same time increasing taxes on gasoline – but the general public are protesting as gasoline is necessary for daily life and to keep a job. Some workers and even retired citizens have seen their disposable income shrink in past two years. 

This article was reported on Bitcoin,fr and Bitcoinmagainze.com.

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