The French National Assembly will proceed with discussions on the revenue segment of the 2027 state budget on Tuesday instead of conducting the scheduled vote.
Based on the end-of-session notice released by the Assembly following Monday’s session, Tuesday’s schedule features governmental inquiries and ongoing talks regarding the budget’s revenue portion, with 758 amendments still awaiting review.
This represents the second postponement of the vote, following the initial October 20 voting delay when over 2,000 amendments remained pending review, according to the French daily newspaper Le Monde.
The National Assembly has until midnight on November 17 to finish its first-reading review. If the revenue component gets voted down, the administration’s initial budget plan will proceed to the Senate excluding the amendments passed by members of parliament.
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France Rejects Crypto Exit Tax Proposals
On Friday, the National Assembly voted down two measures that would have imposed exit taxes on unrealized cryptocurrency profits whenever individuals moved their tax residency abroad.
According to the Assembly’s official voting record, lawmakers defeated the initial measure with 27 votes supporting it, 55 opposing, and one abstention. This measure aimed to integrate digital assets into the nation’s existing exit taxation framework.
A separate proposal was defeated with 31 votes in favor and 60 against. That measure would have levied taxes on unrealized gains of household crypto holdings exceeding 800,000 euros ($897,000) during a transfer of tax residency outside the country, provided the individuals maintained tax residency in France for at least six out of the prior 10 years.
Additional cryptocurrency-related measures are still pending discussion, including a mandate to report self-hosted digital asset holdings with a combined value of at least 100,000 euros ($112,000) to tax authorities based on year-end valuations.
An alternative measure would exempt profits derived from crypto transactions for goods and services from taxation if the aggregate value of these transactions stays under 1,000 euros ($1,120) across the tax year.
On October 16, lawmakers passed a measure to tax gains upon converting digital assets into fiat-backed stablecoins. However, this provision has not yet officially become law.
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Originally published at https://cointelegraph.com/news/france-postpones-2027-budget-vote-reject-crypto-exit-tax?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
