2023: New taxation in France for cryptocurrencies

A little less taxes! – With the new year, various small or large changes are usually implemented. At the side of the taxation of cryptosif we’ve seen this lately Italy is not spoiled since 1ah January 2023, a rare and exceptional one “light better” Note the taxation of the French on the site. Definitely for the humblest. In fact, the progressive scale Income tax is finally becoming available for cryptocurrencies.

No more taxation at 30% for the non-taxed and the 1time tax class

In France, until the last financial year, the capital gain from the sale of cryptocurrencies (in euros and fiduciary currencies) were taxed at a tax rate of Flat Tax (there ” Flat Tax “), This is 30% on the capital gains realized on these crypto sales.

However, as reported by MoneyVox in particular, the situation has improved slightly since then 1ah January 2023. In fact, if your profits from selling cryptos die 305 euros during the tax year you still have to declare them, but you pay a little for that (for some). less taxes.

If since 2019 only the Flat Tax of 30% was possible, crypto enthusiasts can now also opt for the progressive scale income tax. So for applicants not taxableonly the 17.2% Social security contributions are taxed on their crypto capital gains.

For those subject to the 11% income tax bracket, this new crypto tax will apply 28.2% (11+17.2) on their crypto capital gains. On the other hand, those who are taxed at 30 and 45% will not have not interesting subject to the progressive scale.

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The risk of being considered in “professional trading” is reduced

Another small improvement that will affect all crypto investors this time around: the risk of seeing its activities as buying and selling digital assets professional trading should be more restricted.

“The tax administration relied on two criteria to decide whether or not to classify a trader as a trader: the speculative intent, which they considered to be met by default, and the ‘habitual’ nature of the transfers. »

Axel Sabban, Founder of Revo Avocats

But now tax departments have a clear frame and less approximate to define the professional nature of crypto trading or not. Basically, as long as investors trade cryptocurrencies as part of their management private inheritanceshould henceforth remain taxed as particularly.

“Whether a transfer of crypto assets is common or not should now be judged by judges based on qualitative criteria. Above all, we want to know whether the transactions were carried out under professional conditions. Several criteria such as the degree of complexity of the processes and the degree of automation of the activity are run through. In short: anything that allows for almost systematic profit-taking or almost systematic loss reduction.”

Axel Saban

In spite of the European MiCA regulation which is worrying the crypto industry, and a tone from states openly turning to one strong regulation digital assets, all must not be lost. After the obvious urgency of taxation Crypto assets seem like governments and legislators are trying to be a little bit more accommodating and understanding compared to the expectations of the investors (and users) of this young innovative branch.

Don’t skimp on caution when it comes to crypto! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Don’t wait to keep your funds safe (commercial link)!

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