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HOW DO I DECLARE EARNINGS FROM CRYPTOCURRENCIES?
HOW DO I DECLARE EARNINGS FROM CRYPTOCURRENCIES?
Earnings from the sale of cryptocurrencies are taxable and have to be declared in France.
- casual earnings are subject to income tax at a 12.8% rate plus 17.2% social contributions, i.e. 30% in total ;
- regular earnings are subject to the progressive scale of income tax (0 to 45%) plus 17.2% social contributions.
Losses can only offset against similar gains made the same year ; they can not be carried forward.
As any bank account opened outside of France, references of foreign digital assets account have to be declared each year ; a 750 euros penalty per account and per year is due in case of failing (1.500 euros if the balance is more than 50.000 euros).
The French tax specialist law firm CM-Tax and its team of English speaking French tax advisors, based in Lyon and Marseille but operating throughout Franc, assists its clients in the filing of the appropriate tax forms and advises on the applicable tax regimes.
CM-Tax law firm and its team of French tax experts also advises and assists the international community on all subjects relating to French tax law - tax advice and tax litigation - as well as French property law. We also assist the international community in the sale and acquisition of French real estate.
Losses can only offset against similar gains made the same year ; they can not be carried forward.
As any bank account opened outside of France, references of foreign digital assets account have to be declared each year ; a 750 euros penalty per account and per year is due in case of failing (1.500 euros if the balance is more than 50.000 euros).
The French tax specialist law firm CM-Tax and its team of English speaking French tax advisors, based in Lyon and Marseille but operating throughout Franc, assists its clients in the filing of the appropriate tax forms and advises on the applicable tax regimes.
CM-Tax law firm and its team of French tax experts also advises and assists the international community on all subjects relating to French tax law - tax advice and tax litigation - as well as French property law. We also assist the international community in the sale and acquisition of French real estate.
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