France Outlines Significant Tax Cut for Cryptocurrency

[kreslik.news]

The French government has announced a tax reform plan Thursday, which would reduce the tax ‎rates on revenues generated by cryptocurrency transactions, and cut the high-band rate from ‎‎45 percent to 19 percent.‎

The tax reform announced by the French Council of State may just be an opening ‎bid of a long path, but it delivers an aggressive cut that cryptocurrency enthusiasts ‎have been clamoring for.‎

After adding contributions to the social welfare system, the new rate goes up to nearly ‎‎35 percent, which is still a 25 percent reduction of the original fees, according to a report from French outlet Le ... (read more)