Bitcoin and crypto: change in taxation on capital gains from January 1, 2023

A reform on the taxation of capital gains with cryptocurrencies, adopted a year ago, comes into effect from January 1, 2023. This builds on the distinction between individual traders and professional traders, and removes the concepts of occasional dealer and regular dealer trial. to reduce disputes.

That’s why occasionally sellers are replaced by individual investors. In this case, capital gains made under the management of private assets are taxed at 12.8%, excluding social security contributions, which is 17.2%. It should be noted that taxpayers have the option of choosing a progressive income tax scale, as with taxing capital gains from the sale of securities, which may be more advantageous in some cases.

Professional cryptocurrency traders subject to BNC regime rather than BICs

Unlike the old system, the trading frequency does not affect the classification as a private or professional trader. A person who regularly performs complex trades and uses the same tools and techniques as professional traders will be considered a professional trader. This type of investor then enjoys the same tax regime as cryptocurrency miners or stock market professionals.

This means that capital gains realized by professional cryptocurrency investors are subject to progressive taxation of the non-trading profits (BNC) category, not industrial and business profits (BIC) as before.

In particular, the French tax authorities hope that the adoption of this new tax system will make it possible to better distinguish between investor types, clarify regulations and avoid confusion and disagreements between taxpayers and the administration. interpretation between different situations.

Source : what will you choose

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