The French officials have revised the 2019 budget draft making crypto profit equal to the capital one.
The local news agency stated that this proposal has been accepted by the lower chamber of the French Parliament, so now this amendment is subject to the approval of the upper chamber. The Parliament will hold the meeting next week with one of the agenda items to be consideration of this proposal. For now, crypto asset holders face 36,2% tax, including fixed tax and social insurance (19%; 17.2% respectively), while the new tax will be set at 30% in case of the positive determination.
This year France has been taking active moves regarding the cryptocurrency industry. In particular, the work team to develop crypto regulation was announced in early 2018, while later in spring the government stated that crypto profit should be considered as capital from movable assets, as the news reports read. The most recent activity in this area was reportedly recorded in September when ICO guideline was approved in the country.
For now, as the official commented, France has three effective taxes covering one-time, regular deals and miners. At the same time, the new bill suggests softer conditions for the crypto segment, as the proposed tax will be lower and fixed.