French Parliament Refuses to Ease Taxation for Cryptocurrency Owners

[CebuBitcoin]

The lower house of the French parliament has rejected the amendments to the 2019 finance bill which would ease crypto-related taxation. French monthly business magazine Capital reported this Tuesday, Dec. 18.

The amendments that have been declined by the National Assembly referred to a draft of the government finance bill for 2019.

As explained by local crypto news outlet Bitcoin.fr, the Parliament rejected four proposals in total. One of them was to introduce a distinction between regular crypto transactions and occasional ones, offering a more relaxed taxation system for the latter.

Another amendment proposed to increase the annual volume of transactions that falls under tax exemption from €305 (around $350) to €3,000 ($3,430), or even €5,000 ($5,714). The National Assembly also declined the proposal to follow the current guidelines for securities when introducing crypto taxation

As Cointelegraph reported in November, a reduction of the crypto income tax rate from 36.2 to 30 percent was also proposed; this amendment was mentioned during the Assembly’s meeting, but its current status remains unclear.

Readmore: https://cointelegraph.com/news/french-parliament-refuses-to-ease-taxation-for-cryptocurrency-owners