France’s Conseil d’Etat (Council of State) has changed the tax rate on cryptocurrency sales to a flat rate of 19 percent, rather than up to 45 percent like before, local news outlet, Le Mondereported Thursday, April 26. The Council of State said that the tax change comes from a new classification of Bitcoin (BTC) separate from commercial or non-commercial activity:
“The sale of ‘bitcoins’ [fell under] the principle from the category of capital gains of movable property.”
The exceptions to the flat rate are earnings from crypto mining, which will be taxed as non-commercial profits, and income as a result of professional activity, which will be taxed as industrial and commercial profits.
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