Elise Denjean, edited by Yanis Darras 11:10 a.m., May 22, 2022, modified at 11:10 a.m., May 22, 2022

Cryptocurrencies are entering the norm.

For the past few years, French people who have invested in these digital assets have had to declare their capital gains to taxes.

A sometimes difficult process but which must not be forgotten by the 5 million French people concerned, at the risk of being fined. 

Tax season is almost over.

There are only two days left for residents of zone 1 (from department 1 to 19) and one week for residents of zone 2 (from department 20 to 54) to complete your declaration.

Residents of zone 3 (from department 55 to overseas departments).

A statement that includes your income from your job, but also for 4 years, income generated by cryptocurrencies. 

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Thus, the French who have invested in these digital assets and who have sold more than 305 euros of crypto in 2021 must declare it to taxes.

Nearly five million people in France are holders of cryptocurrencies and have an obligation to declare them.

However, the procedure can be complex because it is necessary to follow all its operations to calculate the added value realized.

But there are two golden rules to follow reminds Pierre Morizot, co-founder and CEO of Waltio, a cryptocurrency tax software.

Fine of up to 1,500 euros

"The first obligation is to inform the tax administration that we hold accounts abroad. For example, an individual who holds an account on an exchange platform must, like a foreign bank account, inform the administration tax via form 3916, etc...", he explains.

And to add: "The second obligation for those who have made capital gains, who have sold cryptocurrencies, they must in this case calculate and declare this capital gain."

Failure to report digital asset accounts is subject to a fine of €750 per unreported account.

For accounts abroad, the fine is 1,500 euros. 

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