French lawmakers back plans to ease taxes on bitcoin gains

Technology

A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson

PARIS (Reuters) – The finance commission in France’s lower house of parliament backed plans on Wednesday to ease tax on bitcoin sales, bringing it in line with other capital gains tax.

Currently bitcoin gains are taxed at a rate of 36.2 percent while other forms of capital gains on other non-real estate assets are taxed at a flat 30 percent.

The finance commission adopted an amendment to the 2019 budget bill that would subject sales of crypto-assets like bitcoin to the 30-percent flat rate as well.

The amendment must be approved in the final version of the budget bill by the broader parliament in order to become law.

Reporting by Myriam Rivet, writing by Leigh Thomas; editing by Michel Rose

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