French Lawmakers To Ease Taxes On Bitcoin Gains
A finance commission in the lower house of France’s parliament has created plans to ease the taxation of Bitcoin and other crypto assets and to bring it more in line with other similar capital gains from assets.
At the moment, Bitcoin gains are taxed at a rate of 36.2 percent in France while other forms of capital gains are taxed at a flat 30 percent rate. The information was originally reported by Reuters.
This finance commission will amend the 2019 budget bill to subject crypto assets like Bitcoin to the 30 percent flat rate. However, the bill still needs to be approved in its final version before it can finally see the light of day and become a law.
Countries Discuss Taxes and Cryptos
The whole world is currently focused on how to tax crypto now and initiatives abound in basically all continents. While some will decide like France and tax cryptos like other financial assets, some more positive jurisdictions are easing even more on the legislation while important countries like the United States are having trouble to define the laws.