Great vid @AlexCobb !
Just to clarify some points about the crypto tax in France. It was not exactly reduced from 45% to 19%.
Previously, the taxes were 45% + 15.5 - 17.2% for what we call "social levies" (I am not sure it is the correct word in English). Total : 60.5% - 62.2%.
Now, it is 19% but we still have the "social levies". New total : 34.5% - 36.2%.
Btw, it is a really good thing. And, of course, we only have to pay taxes on our gains.
The reason for this is because in France, crypto was first considered as a "non commercial benefit", a class submitted to a high tax rate. But there is a real hype for crypto down here (the number of crypto owners doubled in a few months), and people started to complain about this high tax rate. Then lawyers realized that there is an other class, untitled "Movable Asset", with a lower rate. And that is exactly what crypto is. Problem solved ?
Sorry if that's not very clear, it is difficult to translate technical/words and make local laws understandable. Damn, I spent 30 minutes to write this reply ! ?
You're welcome ! ?
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