TLDR: A capital gain from cryptocurrencies becomes taxable in France at the time of a paid transfer if the total price of transfers in the year exceeds €305 and the transaction does not qualify as a soulte-free exchange. The obligation applies only to individuals fiscally domiciled in France. Soulte-free exchanges between cryptoassets are exempt in the year they occur.
Who Is Subject to Tax
Tax on cryptocurrency capital gains applies only to individuals fiscally domiciled in France. Legal entities and non-residents are excluded unless they have their tax domicile in France.
Tax Threshold
The reporting obligation is triggered if the total price of paid transfers in the calendar year exceeds €305. This limit refers to the sum of the prices of all transfers made during the year, excluding soulte-free exchanges between digital assets.
Exempt Transactions
Direct exchanges between cryptoassets (e.g., Bitcoin → Ethereum) are not taxable if carried out without soulte. The exemption applies only to the year in which the exchange occurs and does not extend to any subsequent gains realized.
Calculating Capital Gains
Capital gains are calculated as the difference between the transfer price (net of documented expenses) and a proportional share of the historical cost of the entire portfolio, based on the value transferred. The "pro rata" method avoids tracking the historical cost of each individual cryptocurrency unit.
Exchanges with Soulte
In the case of an exchange with soulte, the capital gain is taxable only for the portion corresponding to the soulte received. If soulte is paid, its amount reduces the transfer price for the purpose of calculating the capital gain.
Documentation and Expenses
Transfer expenses, such as fees paid to exchange platforms, can be deducted from the transfer price, but only if documented.