• Mon, 22 Jul 2019, 08:18 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

French lawmakers push for lower crypto tax

Thu, 08 Nov 2018, 11:43 am UTC

The Finance Commission of France’s lower house of parliament, the National Assembly, has backed a plan to cut the tax on bitcoin sales, Reuters reported.

At present, bitcoin gains are taxed at 36.2 percent in the country while the taxes on other forms of capital gains on other non-real estate assets are set at a flat 30 percent. The lawmakers are now seeking to bring the taxes on bitcoin gains in line with the latter.

On these lines, the finance commission on Wednesday adopted an amendment to the 2019 budget bill that would reduce the tax on the sale of cryptocurrencies such as bitcoin to 30 percent.

If approved by the parliament, the new rate will come into effect on January 1, 2019, according to CoinTelegraph.

Earlier this year, French President Emmanuel Macron launched the Action Plan for Business Growth and Transformation (PACTE), Bitcoin.com reported. Among other things, the initiative aims to make it easy for firms to operate in the country and to outline legal guidelines for raising funds via token sales.

In September, the French parliament passed a law which set out guidelines for initial coin offerings (ICOs). The new regulation empowers the Autorité des marchés financiers (AMF) to issue licenses to firms that seek to raise funds via an ICO.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,249.30 (-2.33%)
  • Ethereum (ETH) $215.33 (-2.90%)
  • XRP (XRP) $0.320700 (-2.19%)
  • Litecoin (LTC) $94.25 (-3.98%)
  • Bitcoin Cash (BCH) $305.94 (-3.59%)
  • Bitcoin (BTC) $10,249.30 (-2.33%)
Jul 22, 2019 (Monday)
12:20
Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely
12:20
Former Token Foundry head begins process to sue Joseph Lubin for $13M
11:39
Blockchain firm R3 pushes for more Corda sales with new hire
11:26
South Korean citizen unaffiliated to Samsung files trademark application for 'Samsung Coin'
10:46
Former Russian crypto executive arrested in Italy
09:19
Blockchain startup Diana to launch 'lunar registry' to divide and tokenize the moon
08:39
Crypto Technicals: ETC/USD confirms 'Golden Cross' on hourly charts, eyes 21-EMA at 6.722
07:46
Iran finalizes power tariff scheme for crypto miners but no license for importing mining equipment yet
07:42
Crypto firm FairX closes digital doors due to lack of funding
06:34
Thailand shows less hostility towards Libra compared to other countries
06:23
European Central Bank official says calm down about stablecoin
05:42
No official ban on cryptocurrency yet, Indian Minister clarifies
05:16
Electric firm E.ON applies patent for blockchain-based data collector device
05:02
Accounting giant KPMG partners with Microsoft, TOMIA, and R3 for blockchain-based telecom solutions
04:06
Fidelity Digital Assets applies for trust license in New York: Report
Jul 19, 2019 (Friday)
11:17
Crypto Technicals: XRP/USD grinds lower along 200H SMA, break below 5-DMA to see further weakness
11:12
Binance Jersey announces listing of GBP-backed stablecoin ‘BGBP’
10:32
Rape and sexual harassment case against bitcoin developer blows up
10:15
New Jersey accuses blockchain firm Pocketinns of selling $410K unregistered securities
09:59
Crypto Technicals: LTC/USD struggles at 110-EMA, bias bearish
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft