Exit tax crypto: the Assembly rejects the taxation of gains beyond 800,000 euros

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https://cryptoast.fr/exit-tax-crypto-amendement-bouloux-rejete-plf-2027/

The National Assembly rejected amendment No. I-3432 from socialist deputy Mickaël Bouloux, which proposed extending the exit tax to holders of cryptocurrencies leaving France.

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This measure, examined as part of the 2027 budget, would have concerned households with more than 800,000 euros in crypto-assets.

The objective was to prevent investors from expatriating without paying tax on the gains accumulated during their residence in France. For this, the text provided for the creation of a new article 167 ter of the General Tax Code.

The exit tax taxes unrealized capital gains, i.e. gains not yet realized, when a taxpayer transfers his tax residence outside of France.

It currently concerns shares and other financial securities, but not directly held cryptocurrencies. For the latter, the gains of individuals are in principle subject to the flat tax of 31.4%, only during a taxable transaction, in particular a conversion into euros or a purchase of goods or services.

The Bouloux amendment would have changed the situation for taxpayers who resided in France for at least six of the ten years preceding their departure. The threshold of 800,000 euros related to the total value of the cryptocurrencies held, and not to capital gains alone.

Thus, an investor leaving France with a million euros of cryptos purchased for 200,000 euros would have seen his latent capital gain of 800,000 euros subject to tax. However, payment would not necessarily have been immediate, thanks to the suspension mechanism provided for by the exit tax.

On October 8, the Finance Committee adopted a similar amendment, carried by Nicolas Sansu (GDR). But the rejection of the first part of the budget in committee the next day forced the deputies to resubmit their proposals.

Two versions then appeared: that of Bouloux, limited to cryptocurrencies, and that of Sansu (I-3904), which integrated these assets into the existing exit tax. In this second version, the threshold of 800,000 euros was calculated by adding shares and cryptocurrencies.

The rejection of the Bouloux amendment therefore does not definitively end the debate. Sansu's version remains to be examined, while the budget still has to go through several parliamentary stages.

On October 16, deputies also adopted an amendment aimed at taxing conversions of cryptos into certain , illustrating the persistent differences on the taxation of the sector.

Machine-translated from French