The cryptocurrency capital gains laws will change from January 1, 2023.
Adopted last year, the reform of taxation of capital gains on cryptocurrencies and bitcoin is about to enter into force from January 1, 2023. It should especially removing the legal ambiguity that remained between occasional seller and regular seller. Here’s everything that will change in a few days.
distinguish between individuals and professionals
Specifically, the term occasional seller will soon be replaced by it private investor. If you have a crypto wallet and make occasional movements on blockchains, the fees will now be 12.8%, excluding social contributions, which will be 17.2%. On the other hand, it will be possible to choose a progressive scale for income tax, similar to what already exists for the taxation of capital gains from the sale of securities.
Professional investors, on the other hand, are now replacing the term, considered vague, common seller. The frequency of movements will no longer be taken into account in the differentiation process, but will depend on the type of operations and the tools used to increase its capital. Like stock market professionals, professional crypto investors will now benefit from the progressive tax plan in the Non-Commercial Profits (BNC) category and no longer Industrial and Commercial Profits (BIC).
Goal of the government: Continue betting on cryptocurrencies while stricter regulation of individual and professional investors. The adoption of this new tax system thus hopes to clarify the statutes, but above all to avoid disputes between the taxpayer and the tax authorities. In recent years, the vagueness that remained around the notions of occasional and habitual sellers has led to many numerous tax adjustments. The abandonment of these terms for less subjective concepts is intended to facilitate the preparation of your next tax form.