French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent.
Amendment Awaits Approval by Parliament
The budget amendment was adopted by a finance commission in France’s lower house of parliament, a Reuters report said. But it must first be approved “in the final version of the budget bill by the broader parliament in order to become law.” If approved, the new tax will come into force in January.