Digital currency and tax in France

How cryptocurrencies are assessed in France

In France, cryptocurrencies are treated as movable property and not as legal tender. This classification influences the taxation of digital currencies like Bitcoin, Ethereum, and other altcoins.

Do I have to pay taxes when I sell my cryptocurrencies?

Yes, in France, if you sell cryptocurrencies and realize a gain, this is subject to capital gains tax. The tax rate for digital currency gains is a flat 30%, which includes 12.8% income tax and 17.2% social contributions. However, as of 1st of January 2023, you also have the option to be taxed using a progressive income tax scale between 0-45% instead of the flat tax.

What about long-term holdings?

France does not offer a tax exemption for long-term gains in cryptocurrencies. All gains, regardless of the holding period, are taxed at the standard flat rate of 30%.

How does staking affect my taxes?

Similar to trading, staking cryptocurrencies can also lead to tax implications. While the capital gains on the sale of staked assets are taxed at the flat rate of 30%, rewards or interest earned from staking are treated as additional income and taxed at your personal income tax rate.

Tracking cryptocurrency transactions on Bitvavo

To effectively manage and report your cryptocurrency taxes in France, you can monitor all your transactions including trades, deposits, and withdrawals directly through Bitvavo. Your Transaction History on Bitvavo provides a detailed record, and you can export this data as a CSV file to facilitate your tax reporting.

Additionally, we have a great collaboration with Blockpit, where you can easily handle your tax return. Learn more about it through this link.

Need more information?

For further assistance or to inquire about specific details not included in your Transaction History, please contact us at support@bitvavo.com. Our team is ready to help you navigate your cryptocurrency tax responsibilities in France effectively.

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