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3 clusters · 6 sources · 5 days · First seen · Last updated

French digital taxation legislative developments

Overview

France is advancing several tax-related amendments for its 2027 finance bill targeting the digital economy. Legislative efforts have expanded to include significant digital service taxes. The National Assembly's finance commission has adopted an amendment to raise the tax rate on large digital companies from 3% to 15%, while simultaneously increasing the global revenue threshold for taxation from 750 million euros to 2 billion euros. This shift is projected to increase annual tax revenues from approximately 890 million euros to between 3.5 and 4 billion euros. While the measure has support across various political factions, it faces potential risks of retaliatory measures from the United States. A separate proposal from the Socialist Party to tax internet data flows at 5.5 cents per gigabyte was rejected due to technical complexities and concerns that costs would be passed to consumers.

Regarding digital assets, the commission has adopted measures that would implement a 31.4% flat tax on conversions from cryptocurrencies to stablecoins, effective January 1, 2027. This would change the current system where such exchanges do not trigger taxes until conversion back to fiat currency. Other proposed measures include expanding the exit tax to cover latent capital gains on crypto-assets for households leaving France and requiring the declaration of self-hosted wallets containing more than 100,000 euros. A voting session on these cryptocurrency amendments is scheduled for October 13.

Entities

French National Assembly · European Union · Socialist Party · Zcash · Cardano

Timeline

  1. [BUSINESS] 2 sources
    France considers new crypto taxes and wallet disclosure rules

    French lawmakers are voting on 2027 budget amendments that include a 31.4% tax on crypto-to-stablecoin conversions and expanded exit taxes for crypto-asset holders leaving the country.

  2. [POLITICS] 3 sources
    France finance commission adopts amendment to increase digital tax

    France's finance commission adopted an amendment to raise the digital tax on tech giants from 3% to 15%, potentially increasing annual revenue to 4 billion euros.

  3. [BUSINESS] 2 sources
    France considers new crypto taxes and wallet reporting in 2027 budget

    Proposed amendments to France's 2027 budget seek to tax stablecoins and require large crypto-asset holders to declare wallets, alongside upcoming EU DAC8 reporting requirements.

Sources

bitcoin.fr · cointribune.com · cresus.dz · journalducoin.com · macg.co · presse-citron.net

This summary has been updated 1 time: see revision history