Many are wondering what is the rule in terms of the taxation of crypto-assets. However, the plan portion that could rise up to 45 % and which was applied until now has just been changed. Good news for French investors !
A decision of the Council of State
The Council of State, that is to say the highest court in the French administrative order, has decided to cancel the tax instruction for 2014 that emanated from the inland revenue. The latter could tax the crypto-currency up to 62 %. The situation having evolved, the Council of State has chosen to change that, alleviating the taxation in this sector, which is yet controversial.
Pixabay The Digital Artst / The Council of State has lowered the tax system related to crypto-currencies.
Thus, we learn that if the investment is made on an occasional basis and that it is not a product of mining (a case particular, as we will explain below), the tax falls to “only” 19 %. This percentage does not take into account the CSG and other taxes, if any.
A position with a unanimous
If the tax measures have evolved, it is simply because the firm crash during had filed an appeal for excess of power. The Council of State has therefore considered the delicate question of crypto-currencies and the administrative judges have considered that the Bitcoin and other crypto-currencies have the character of intangible personal property and that the profits derived from their sale by individuals under the regime of capital gains on transfer of movable property. However, the tax amounted to 19 %.
Pixabay – Geralt / The French investors are delighted by this decision.
And that’s not all ! The tax system provides for a complete exemption if the resale value is less than 5 000 euros. On the other hand, blasting is a very special case, the tax regime is different, as explained in the official press release : “The gains from a disposal of units of “Bitcoin”, including if it is a transfer operation single, are likely to be taxed in the category of the BNC on the basis of article 92 of the general tax code to the extent they do not constitute a capital gain resulting from an investment transaction but the consideration of the participation of the taxpayer in the establishment and functioning of this system of unit of account virtual. “
The tax system has been slightly modified, which, of course, the pleasure of the investors.
Source : The World