French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

LFC_Bitcoin

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Quote from: LFC_Bitcoin on November 08, 2018, 08:20:44 AM

30% is still VERY high, if I was French I’d be doing everything in my power (legal or not legal) to make a few moves to get that even lower.

It’s only 10-20% in the UK.

Damn it's like 15% in the US and only on the profits, what's this craziness you Europeans are willing to put up with?

I’ve never declared a penny & I sold all of my free BCH last year - Fucking LOL.
Obviously I’m not going to get away without paying tax when I start selling my cold storage stash in a number of years as that’ll be a significant amount.

Futureglory

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This is just and ardent move to reduce a tax of 6% and is a very laudable move to just equip people and gain more interest of investors.

Joeyvicky

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This is a very good move for France and it will actually encourage more investors and increase the market size of the country. Am most countries with huge tax could learn from this and lessen the stress on tax for crypto.

LFC_Bitcoin

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30% is still VERY high, if I was French I’d be doing everything in my power (legal or not legal) to make a few moves to get that even lower.

It’s only 10-20% in the UK.

tomahawk9

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Not bad, though 30% still sounds like a lot, but it seems like they've decreasing taxes of cryptocurrency taxes since, as the article says, it was 45% earlier this year. So if this trend continues then taxes could reach a new low, perhaps 20%, now that's a number I can get behind. Reaching those numbers could definitely bring a more positive outcome in the future, maybe it could incentive more people to join the crypto mania so kudos to the french govt if the continue to have a positive attitude towards cryptos.

giantrobot

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This is a good move from the French government to encourage people to invest in Bitcoin. Here are some of the supporters. This would encourage other countries to support Bitcoin.

Kopyleft

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Imposing more taxes in cryptocurrencies than you out on other assets, like real estate or property should have never been.
And now after much pressure (I presume) you ran it the normal amounts you should have put in the beginning.

This arbitrary system that affords gov'ts full control is the reason I have never subscribed to the idea of regulations.

LeGaulois

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The article isn't showing the reality. They increased something else to compensate for the loss in revenue. So if you decrease from 5% on a side but increase by 7% on the other side, then the citizens are still loosing. Easy manipulation. The country is pro taxes. Just for the oil, we have 17 taxes... Even when you're dead, you're still taxed on a lot of things.

eternalgloom

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I don't know if this is that positive, I mean the original article states that it will now be taxed the same as other investments (other than real-estate).
Makes you think why it was taxed higher in the first place...

OP, next time post the actual article instead of a website that just points you to the right article.

https://news.bitcoin.com/french-lawmakers-to-lower-cryptocurrency-tax-by-6-percent/

Kakmakr

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At least some of these governments are starting to handle Bitcoin fairly towards other commodities and assets. They say, "this will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent."

I cannot see why some countries want to double tax Bitcoin, when other forex trading and commodities are taxed at a lower rate. Some countries tax Bitcoin trading with Capital gains and they still add VAT to these trades. Roll Eyes

I tip my hat to the French, with this move. Wink

pat4cryptoreal

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The tax percentage is still very high even after the reduction. This taxation is what Government actually want , any country that have not successfully implemented the tax on cryptocurrencies transactions is not happy with cryptocurrency.

pakhitheboss

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Quote from: sell100 on November 07, 2018, 09:09:41 PM

French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring

Read more: https://www.trackcoinmarket.com/crypto-news/38190/french-lawmakers-cryptocurrency-tax-6-percent

This is how you encourage your countries population to trade and invest in Cryptocurrency. The TAX slab as per my country is on the highest side, but still a welcome Initiative by the Lawmakers.

We can expect new investor/traders entering the Cryprto market from France.

SUDARMONO

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this is very good with a decrease in taxes like that, and I think that with a decrease in taxes will make bitcoin holders or entrepreneurs and investors very happy with such regulations.

sell100

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French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring

Read more: https://www.trackcoinmarket.com/crypto-news/38190/french-lawmakers-cryptocurrency-tax-6-percent

Topic: French Lawmakers to Lower Cryptocurrency Tax by 6 Percent (Read 256 times)