France how to cash out without paying taxes?
There is currently no way of avoiding paying crypto taxes in France. However, it is possible to route your crypto to a country with very low or no crypto taxation to cash out. This approach is an easy and legal way to reduce the cost of cashing out your cryptocurrency.
The amount of tax you’ll owe on your cryptocurrency depends on your transactions, your total annual income, and your classification as an investor. Profits from cryptocurrency sales can be taxed at a maximum of 30% PFU for occasional traders, or classified as non-commercial profits (BNC) and taxed at a maximum of 45% for professional traders, as per the latest guidance (previously known as BIC tax). Crypto mining rewards are similarly considered non-commercial profits and are subject to Income Tax at a maximum rate of 45%. However, there is a micro-BNC tax treatment available for smaller mining operations with an annual turnover below €72,600 for 2022 (€77,700 for 2023).
| Prélèvement forfaitaire unique (PFU) | Rate |
| Income Tax | 12.8% |
| Social security contributions | 17.2% |
| Total rate | 30.0% |
| Income Brackets | Rate |
| Up to €10,777 | 0% |
| From €10,778 to €27,478 | 11% |
| From €27,479 to €78,570 | 30% |
| From €78,571 to €168,994 | 41% |
| More than €168,994 | 45% |
Resource: https://koinly.io/guides/crypto-tax-france/
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