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France wants to reduce taxes on Bitcoin profits – Coin Hero

France wants to reduce taxes on Bitcoin profits

Home News France wants taxes on Bitcoin gains reduce

Of
Matthias Nemack –
09.11.2018

In spite of the increasing recognition and regulation of crypto-currencies there are in the field of taxation, in many places, no clear conditions. France’s Parliament has now to decide for 2019, with a possible reduction in tax for profit on the crypto-market.

The upper house of the Parliament to agree to the request of the lower house

Correctly, it must be said: The new rules for the taxation of gains from the Trading of Cryptocurrencies such as Bitcoin have been adopted by the Parliament-the lower house as an Amendment to the upcoming budget law. The media assume that the regulation will actually be implemented, so that France, once more, in the treatment of Ethereum and all other digital currencies within Europe is exemplary. For the equality of the Blockchain technology and crypto-currencies, this would be an important step.

Government makes itself for a long time for crypto developments

Repeatedly called the President of France, Macron in the past for a more liberal policy in this matter. For him, the recognition is to invest with a particular view on the French company to be relevant, either in crypto-Coins or even with the Blockchain work. In fact, the head of the government even a activities of the state seems to draw more consideration because Macron plans even crypto-provisions for state programs. To Mining, the state will not want to get in for sure. In the case of elections or bureaucratic issues but would like to a number of countries Experiments with the Blockchain.

How to look the new tax situation?

If everything proceeds as planned, should currencies be taxed on the income from the sale of Crypto in the future with 30 percent. The tax rate is 36 per cent above the rate of capital gains tax, which applies in France for a number of other speculative and investment products currently. The tax reduction is from the point of view of many insiders, is important in order to stabilise the Standard of France. Not to mention the advantages for private investors. Both the lower house and the upper house should give promptly the green light, could be the country from 2019, not only within Europe, a new crypto-high castle, which would attract many Startups.

The tax change would create in reason, just one of several measures taken by the government Macron, the efforts are clear legal provisions and regulations for the booming market.

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