France has cut the tax rate on cryptocurrency sales from 45% to a flat rate of 19% in a reclassification move by the Council of State.
The Conseil d’Etat (Council of State), France’s supreme overseer on matters of legal administration announced on Thursday that sales of bitcoin would no longer fall under the classification of commercial or non-commercial activity. It is now categorized as moveable property and capital gains taxes on such properties will apply. [credit]
Way to go France! Hopefully, more countries will follow!
Yes but sadly it applies only for casual buyers... And to that you need to add 15,5% of social contributions. So total taxes are 40%.
And for professionals, traders or more frequent buyers, it is still up to 45%.
:( thats sad... and it seems that in general, governments dont want new wealthy people....