The French National Assembly (Assemblee Nationale) has officially rejected two proposals aimed at extending the exit tax regime to crypto assets. The decision strikes down plans to levy a tax on unrealized capital gains for taxpayers relocating abroad.
The rejection came amid debates over the revenue section of the 2027 state budget. However, concluding the exit tax debate has not finalized the legislative process, as the overall budget vote remains delayed by a backlog of pending amendments.
Parliament Rejects Two Exit Tax Proposals
The first rejected measure was Amendment I-3904, drafted by Nicolas Sansu. In an official vote, Sansu’s amendment was defeated with 55 lawmakers voting against, 27 in favor, and one abstention.
Amendment I-3432, introduced by Mickael Bouloux, met a similar fate, falling 60 votes to 31. Bouloux’s draft sought to target unrealized capital gains on household crypto holdings exceeding 800,000 euros (around $897,000) for individuals who have resided in France for at least six of the past ten years.
Backlog of 758 Amendments Delays Budget Vote
Despite rejecting both exit tax drafts, the National Assembly has not yet passed the 2027 budget revenue bill. Parliament delayed the vote until a midnight deadline on November 17 due to 758 unresolved amendments still on the agenda.
This postponement marks the second delay during the current budget proceedings, following an initial delay on October 20 when over 2,000 amendments remained unaddressed.
Mandatory Self-Custody Reporting and Stablecoin Tax Plans
Lawmakers are still debating mandatory reporting requirements for individuals holding at least 100,000 euros (around $112,000) in self-custody crypto wallets at year-end, carrying potential fines of up to 10,000 euros.
Another proposal under consideration includes a capital gains tax exemption on payments for goods and services using crypto up to a threshold of 1,000 euros per tax year.
Earlier on October 16, parliament approved an amendment taxing conversions of crypto assets into fiat-pegged stablecoins. However, that stablecoin conversion provision has not yet been enacted into final law.
For crypto holders in France, the rejection ensures that unrealized assets will not be taxed upon relocating abroad. The final outcome on self-custody wallet reporting and stablecoin taxes now hinges on the budget vote scheduled ahead of midnight on November 17.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
