Changes to mitigate the crypt tax France – CRIPTO TENDENCIA




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The Finance Committee of the Lower House of the French Parliament has adopted amendments to the Tax Act, which reduces the sales tax in the cryptographic currency.

Amendments made by the Council Finance Committee of the National Assembly reference to the draft law on public finances (PLF) by 2019. If the final version of the document is approved by a wider parliament whose hearing is due to be scheduled for next week, the cryptographic sales tax will be equal to capital gains tax.

At present, cryptographic revenue is taxed at a rate of 36.2 percent. If budget changes are adopted, the rate will be reduced to 30 percent by 1 January 2019.

The French government has actively legislated to adapt new technologies, including digital currencies and the block chain. President Emmanuel Macron he once said he wanted France to become "a new nation," while the French Minister of Economy and Finance, Bruno le Maire, confirmed that the country is ready for a "block chain revolution".

In September, Maire announced that the government had adopted a legal framework for initial currencies (ICO). Under the new rules, he is the regulator of the French securities markets Authorite des marchés financiers (AMF) It is authorized to issue licenses to companies seeking to raise funds through ICO. Legislation also offers several safeguards to investors.

Meanwhile, the government is still finishing PACTE: Action Plan for Growth and Transformation of Companies, The Bill contains some significant changes to the French regulatory framework as regards cryptographic assets and ICOs.

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