French Crypto Tax Rules and PVCT Capital-Gains Calculation

Summary

The guide outlines French tax treatment of crypto activity, distinguishing private asset management from professional trading and describing when gains, mining rewards, and other income may be taxable. It says private disposals to fiat generally fall under the flat PFU regime, while professional-like trading and mining are treated under BNC. It also describes crypto-to-crypto trades as non-disposals under the guidance summarized here, while noting uncertainty around some transactions and spending crypto.

For sales involving multiple holdings of the same asset, it presents the PVCT formula, which allocates acquisition costs in proportion to sale proceeds and total portfolio value. The guide also covers cost basis, loss offsets, a small annual allowance, and filing forms. Its account is a secondary summary of French rules, not individualized tax advice; it flags limited official guidance on certain income and loss cases, and rules may change.

Key ideas

• The guide describes private crypto disposals to fiat as subject to capital-gains treatment under the PFU regime.
• It distinguishes private asset management from professional-like crypto trading, which it says falls under BNC.
• The PVCT method allocates portfolio acquisition costs proportionally when calculating gains on sales of an asset held in multiple units.
• Mining rewards are treated as non-commercial income, while the tax treatment of some other rewards remains uncertain.
• The guide recommends tracking costs, gains, and income for tax reporting and identifies forms used in France.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.