France has altered the way in which it treats profits from cryptocurrencies, leading to a reduction in tax rates. Gains from cryptocurrencies were previously considered commercial and industrial profits for continuous activity, and non-commercial profits for occasional activity, by the High Administrative Court of France, resulting in taxes of 19%. However, the Council of State has partially sided with claimants who challenged this view. As a result, cryptocurrency profits are now deemed as movable property, resulting in a up to 45% flat rate of tax payable.
France has altered the way in which it treats profits from cryptocurrencies, leading to a reduction in tax rates. Gains from cryptocurrencies were previously considered commercial and industrial profits for continuous activity, and non-commercial profits for occasional activity, by the High Administrative Court of France, resulting in taxes of up to 45%. However, the Council of State has partially sided with claimants who challenged this view. As a result, cryptocurrency profits are now deemed as movable property, resulting in a 19% flat rate of tax payable.