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France Plans Automatic Reporting Of Foreign Crypto Data

France Plans Automatic Reporting Of Foreign Crypto Data


19h15 ▪
5
min read ▪ by
Luc Jose A.

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The Senate approved an agreement allowing the automatic exchange of information about cryptos held with foreign providers. This text does not create any new tax, but it mainly gives the tax authority the means to compare taxpayers’ declarations with data received each year from its counterparts.

The scene illustrates the possibility for the French tax authority to access data from users of foreign crypto platforms. On the left, a tax administration representative monitors the arrival of digital files into a huge official vault. On the right, several international platforms, symbolized by their servers and logos, transmit information through glowing orange data streams. In the foreground, concerned investors check their computers and smartphones, fearing reinforced tax surveillance. The globe highlights the international dimension of these exchanges. Overall, it evokes increased tax transparency, without presenting this potential data transmission as already effective or systematic.The scene illustrates the possibility for the French tax authority to access data from users of foreign crypto platforms. On the left, a tax administration representative monitors the arrival of digital files into a huge official vault. On the right, several international platforms, symbolized by their servers and logos, transmit information through glowing orange data streams. In the foreground, concerned investors check their computers and smartphones, fearing reinforced tax surveillance. The globe highlights the international dimension of these exchanges. Overall, it evokes increased tax transparency, without presenting this potential data transmission as already effective or systematic.

In Brief

  • The Senate approved an agreement facilitating the automatic exchange of data about cryptos held abroad.
  • The French tax…

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