France's National Assembly Finance Committee passed amendments for a stablecoin transaction tax and an exit tax on crypto assets, but subsequently rejected the revenue section of the 2027 budget.
France's National Assembly Finance Committee this week voted to approve two amendments: taxing the conversion of crypto assets into stablecoins, and imposing an exit tax on wealthy crypto asset holders who move abroad. However, the committee on Friday rejected the entire revenue section of the 2027 budget by a vote of 31 to 3. This means these crypto tax amendments will not automatically proceed to a full parliamentary debate, and their proponents will need to reintroduce them during the plenary debate starting October 13. If ultimately passed, the stablecoin transaction tax and crypto asset exit tax would take effect on January 1, 2027. The stablecoin transaction tax would be levied at France's flat rate of 31.4%, and the exit tax would apply to taxpayers whose total crypto assets exceed 800,000 euros and who meet residency duration requirements. The committee also approved an amendment allowing crypto asset losses to be carried forward for 10 years to offset future gains.
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