With the rise of crypto-assets, tax rules in France and Europe are adapting to regulate this growing sector. Here is the latest information to know:
1. Tax regime for crypto-assets in France
Since January 1, 2023, individuals can choose between two tax regimes for capital gains made on the sale of crypto-assets:
• Single Flat-Rate Deduction (PFU): a flat rate of 30%, including 12.8% income tax and 17.2% social security contributions.
• Progressive income tax scale: earnings are added to other income, with application of social security contributions (17.2%).
Exemption: Capital gains are exempt from tax if the total amount of annual sales is less than 305 euros.
For professional activities related to crypto-assets (intensive trading, mining, etc.), income is taxed in the Non-Commercial Profits (BNC) category.
2. Recent proposals and tax debates
• Stablecoin taxation: Discussions in 2024 have suggested taxing conversions between cryptoassets and stablecoins, with the latter being considered payment instruments rather than speculative assets.
• Increase in the flat tax: A proposal aimed to increase the PFU to 33%, or even 37.2% for high incomes (more than €250,000). Although rejected by the Finance Committee, this subject remains under debate.
3. European regulations: MiCA and DAC8
• MiCA (Markets in Crypto-Assets Regulation): Applicable from December 2024, this regulation harmonizes the rules of crypto-assets in the European Union. Certain provisions, notably on stablecoins, have already been in force since June 2024.
• DAC8: From 2026, crypto service providers in Europe will have to report transactions for tax purposes, increasing transparency and the fight against tax evasion.
4. Declaration of crypto-assets
Taxpayers must declare:
• Capital gains via form no. 2042.
• Digital asset accounts held abroad via form no. 3916-bis.
Keeping accurate records (dates, amounts, values at the time of the transaction) is essential to avoid any tax disputes.
5. Tips for investors
• Anticipate taxation: Keep detailed documentation of your transactions.
• Consult a professional: Given the rapid evolution of the rules, a specialized tax advisor or accountant is a valuable asset.
In conclusion, the taxation of crypto-assets continues to be structured in France and Europe. Investors must keep themselves informed of the new provisions while adopting rigorous practices to optimize their tax management.#France