The Tax on Cryptocurrency in France Has Decreased from 45 to 19%
The State Council of France decided to reduce the tax rate from sales of digital currencies from 45 to 19%, local media reported. In addition, the authorities noted that the changes that the tax rate is undergoing are the consequences of establishing a new definition of the leading cryptocurrency, Bitcoin, which contained the information on the fall of its sales due to capital gains. The changes have not affected the mining of cryptocurrency, since it is taxed only by the commercial profit tax, the profitability from large-scale mining of the cryptocurrency will still be classified. The tax rate was reduced after citizens applied to the Supreme Regulatory Authority of France with the issue of changing the processes of cryptocurrency operations established by the country's authorities in the of July 2014. Subscribe to The Coin Shark news in Twitter: