France lowers tax rates on cryptocurrencies
French officials put forward a plan aimed at cutting taxes related to cryptocurrency sales. The rates, currently at 36.2 percent are due to be lowered to 30 percent thus matching most of the country’s taxes concerning capital gains.
This new amendment adopted by France’s Finance Commission for a 2019 budget bill can only continue forward once approved by parliament.
Despite the cut, France’s rates pale in comparison to those associated with cryptocurrencies in Germany, Denmark, Singapore, and a multitude of other nations. Nonetheless it most likely comes as a warm welcome for anyone currently profiting from cryptocurrencies in the region.