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French government to lower crypto tax by 6% next year through budget amendment

08 Nov, 2018
by Fifi Arisandi
News
French government to lower crypto tax by 6% next year through budget amendment

France government is looking to lower crypto tax by 6% through next year’s budget amendment.

An amendment to 2019 budget that will cut tax on capital gained from Bitcoin sales has been adopted by the France’s lower house of parliament’s finance commission.

The cut will bring Bitcoin capital gains down from 36.2% to 30%, which equals to the other non-real estate assets’ flat capital gains tax.

The final call, however, relies on the hand of the broader parliament to make it a law, according to Reuters. If approved, the new tax will prevail starting January 2019.

Despite the recent Bitcoin scam that made many French citizens lose millions of Euros, the France government has been showing efforts to “embrace” cryptocurrency. Among them are the decision to create regulations for ICOs as well as an appropriate regulatory framework for cryptocurrency.

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Read more about:Bitcoin (BTC)

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