TLDR: In France, declaring cryptocurrencies applies to tax residents. It includes declaring digital asset wallets held abroad, capital gains from the sale of crypto assets, and crypto asset accounts opened abroad. Declarations are made online via the tax website using a tax number and password.
Who Must Declare Their Cryptocurrencies in France?
In France, the obligation to declare cryptocurrencies applies only to taxpayers who are tax residents in the country. This includes French residents as well as foreigners living in France. The specific obligations concern three distinct cases:
- Digital asset wallets held abroad.
- Capital gains from the sale of crypto assets.
- Crypto asset accounts opened abroad.
Non-tax residents are not subject to these obligations unless they conduct transactions in France or hold assets there through a permanent establishment.
How to Access the Online Declaration?
To declare cryptocurrencies online, the taxpayer must log in to their personal account on impots.gouv.fr using two mandatory identifiers:
- The tax number (13 digits).
- A password or an online access number.
For first-time declarations, it is possible to request online access via the tax website or use a paper declaration.
What Information Must Be Declared?
The declaration of cryptocurrencies in France covers three types of information:
- References of Digital Asset Wallets Held Abroad
The following must be declared:
- The name of the platform or service.
- The public address of the wallet.
- The holding period.
- Capital Gains from Sales
Taxable gains are calculated using the global portfolio method:
- The gross capital gain is equal to the difference between the sale price and the share of the total acquisition cost of the portfolio.
- Exemption threshold: sales with a total annual amount not exceeding €305 are tax-exempt.
- Exemption for exchanges without cash consideration: exchanges between crypto assets are not taxable in the year of the exchange, provided no amount in euros is added.
- Crypto Asset Accounts Opened Abroad
Accounts held on foreign platforms must be declared as accounts opened outside France, even if they have not generated any income.
When and How to Declare?
The declaration of cryptocurrencies is part of the annual income tax return. Taxpayers who declare online systematically benefit from an extended deadline compared to those using the paper form. In case of omission or error, it is possible to correct the declaration after submission directly from the personal account on the tax website.
Special Cases and Exceptions
Certain cryptocurrency-related transactions are not subject to declaration or taxation under specific conditions:
- Exchanges between crypto assets without cash consideration.
- Crypto asset accounts in France.
- €305 threshold for capital gains.