French Finance Minister Bruno Le Mayor said that transactions in cryptocurrency (in cryptocurrency / cryptocurrency pairs) will be exempt from taxes. France will tax the income from investments in cryptocurrencies only when they are converted into “traditional” currencies.
Le Mayor said :
“We believe that at a time when revenue is converted into traditional money, it’s the right time to calculate tax.”
He added that the value added tax in the country will be accrued only if the crypto asset is used to purchase a product or service.
In July, French authorities began licensing companies representing the cryptocurrency industry.
Publication date 09/13/2019
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