-
The French National Assembly must evaluate the project and decide whether to approve it or not.
-
In addition to these profits, land, investments and tangible personal property are taxed.
The French Senate approved a series of amendments to the 2025 finance bill, including taxes on unrealized profits from Bitcoin (BTC) and other cryptocurrencies.
Are modifications seek to expand the tax base of the real estate wealth tax (IFI) to transform it into a tax on “unproductive wealth”, with the aim of correct “tax injustice” between different types of investors.
According to the amendments, the wealth tax will not only cover real estate but also “passive assets,” defined as those that do not directly contribute to the economic growth of the country.
This category includes buildable land not used for economic activities, cash and financial investments such as savings accounts and money market funds, tangible assets such as jewelry, cars, yachts and airplanes, as well as digital assets such as bitcoin.
In addition, literary, artistic and industrial property rights are included, provided that the taxpayer is not the author or inventor of said works.
The justification for these amendments is to address fiscal inequality, especially between those who invest in rentals and those who own luxury goods that do not generate direct economic benefit, according to French senators.
The Senate has attempted in the past to modify the IFI in the 2020, 2023 and 2024 finance bills, but these proposals were rejected by the National Assembly. Now, these new amendments pass to the scrutiny of the Lower House, which will meet on December 18 to examine and decide the fate of the project.
The tax imposition on cryptocurrencies It is not a novelty in Europe; A growing movement towards this type of regulation has been observed from different nations. For example, in Italy, the possibility of establish a 42% tax on bitcoin operationsas reported by CriptoNoticias, although it was finally proposed reduce it to 28%.
As for France, the taxation of digital assets already has precedents since 2019, when article 150 of the General Tax Code was introduced. This establishes that any profit greater than 305 euros from the sale of BTC or other cryptocurrencies in a year must be declared and is subject to tax.
The French Senate’s decision to move forward with these amendments reflects a broader concern about how to manage wealth in the digital age and how to ensure equitable distribution of the tax burden across all sectors of the economy.
The National Assembly now has the say to decide whether this fiscal approach becomes law, which could have significant implications for Cryptocurrency investors and other assets considered “unproductive” in France.
This article was created using artificial intelligence and edited by a human Editor.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
