France: Bitcoin Revenues Must be Declared to Tax Authorities
The French Ministry of Economy and Finance has said that, while bitcoin is not officially recognized by the state, revenues generated from digital currency transactions are subject to taxation. However, under French law, there exists a certain margin of tolerance for minor and irregular revenues for those who do not make their living from bitcoin trading, according to the ministry. "For the time being, there is no declarative obligation in what concerns bitcoin," a spokesperson for the French ministry told local daily Le Monde, explaining: "All taxpayers are required to declare all their....
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Making money in any way, shape, or form with bitcoin and/or digital currency? French tax authorities have made it clear they want to know about it. The country's Ministry of Economy has said they don't recognize bitcoin as a currency, but they expect citizens who generate any sort of revenue from their use to update tax authorities and pay any appropriate tax on revenues earned through the use of digital currency. Under French law, however, individuals who aren't earning a living involving bitcoin usage have some wiggle room. A spokesperson from the French ministry told Le Monde (via....
France has mandates its citizens to declare all revenue from all transactions involving Bitcoin. The Ministry of Economy and Finance of France has decided that revenue from Bitcoin transactions are subject to taxation even though the government does not recognize it as a digital currency. Of course, this stance has generated much controversy given the status of Bitcoin in the country. Nevertheless, according to French law, the new requirements will be lax for the underaged and those who only earn small amounts at irregular intervals using Bitcoin. “All taxpayers are required to declare all....
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