Cryptocurrency taxation has become an increasingly important topic, especially with the new reforms on the taxation of gains made with cryptocurrencies taking effect on January 1st, 2023. This reform is based on the distinction between individual investors and professional investors, and aims to reduce disputes. In this article, we will explain the different tax rules that apply to cryptocurrencies in France.
Individual Investors
Gains made as part of private asset management are taxed at 12.8%, not including social security contributions, which amount to 17.2%. Taxpayers also have the option to opt for the progressive income tax rate, as with the taxation of capital gains from securities.
Professional Investors
A person will be considered a professional investor if they regularly perform sophisticated operations and use the same tools and techniques as professional traders. Gains made by professional cryptocurrency investors are subject to the progressive tax rate of the non-commercial profits (BNC) category, instead of the industrial and commercial profits (BIC) category, as was previously the case.
It is important to note that tax rules regarding cryptocurrencies are constantly evolving. It is therefore important to stay informed and consult an accountant to ensure compliance with the current tax rules.
The new tax regulations on cryptocurrencies allow for better distinction between types of investors and should avoid disputes with the tax authorities. It is therefore important to stay informed and consult an accountant to ensure compliance with the current tax rules.
In conclusion, the tax rules regarding cryptocurrencies are constantly evolving and it's important to stay informed and consult an accountant to ensure compliance with the current tax rules. However, there are ways to maximize gains and minimize risks associated with investing in cryptocurrencies. That's why we recommend using an automated trading platform like Kryll.io.
Kryll is an innovative platform that allows users to create automated trading strategies using a drag-and-drop system. This means that users can create trading strategies without needing programming knowledge. Additionally, Kryll is a secure and transparent platform, managed by an active community. By using Kryll, users can maximize their gains by using automated trading strategies while minimizing risks. Additionally, the platform allows users to earn passive income by renting out their strategies to other users.
In short, the tax rules on cryptocurrencies are complex, but by using an innovative and well-managed platform like Kryll, you can maximize your gains while minimizing risks. Don't hesitate to discover Kryll and enter the exciting world of cryptocurrency.
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