French Crypto Traders Might Benefit from Lower Tax

© Reuters. French Crypto Traders Might Benefit from Lower Tax © Reuters. French Crypto Traders Might Benefit from Lower Tax

The finance commission in the lower house of France’s parliament supported on Wednesday a budget amendment that envisions lower taxes on cryptocurrency-generated income, Reuters reports. If approved, the proposal will lead to a flat 30% tax for capital gains from trading, putting cryptocurrencies in the same basket as other non-property assets taxed at that rate.

The amendment will become law if the rest of parliament approves the final version of the national budget bill. Should it get the all-clear, the new tax will take effect in January 2019.

At the moment, Bitcoin profits in France are taxed at a rate of 36.2%, and a re…

This article appeared first on Cryptovest

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