Key facts
- The National Assembly has until midnight on November 17 to complete its first-reading examination of the 2027 budget.
- If the revenue section is rejected, the government's original budget proposal moves to the Senate without MPs' amendments.
- One rejected proposal would have taxed unrealized crypto gains above 800,000 euros on departure, with 31 votes in favor and 60 against.
- The other rejected proposal would have added crypto assets to France's existing exit tax regime, with 27 votes in favor and 55 against.
- Other crypto proposals await debate, including reporting self-custodied holdings of at least 100,000 euros to tax authorities.
- Lawmakers approved a proposal on October 16 to tax gains when crypto is converted into fiat-pegged stablecoins; it has not become law.
France's National Assembly will continue debating the revenue section of the 2027 state budget on Tuesday instead of holding a planned vote, according to the Assembly's end-of-session notice following Monday's sitting. Tuesday's agenda includes questions to the government and continued debate on the revenue section, with 758 amendments still pending examination.
The postponement is the second delay for the vote. The original October 20 vote was postponed with more than 2,000 amendments awaiting debate, French newspaper Le Monde reported. The National Assembly has until midnight on November 17 to complete its first-reading examination. If the revenue section is rejected, the government's original budget proposal will move to the Senate without the amendments adopted by MPs.
Separately, the National Assembly rejected two proposals on Friday that would have applied exit taxes to unrealized crypto gains when taxpayers transferred their tax residence abroad. Lawmakers rejected the first proposal with 27 votes in favor, 55 against and one abstention, according to the Assembly's official voting record. It sought to include crypto assets in France's existing exit tax regime.
A separate proposal was rejected with 31 votes in favor and 60 against. It would have taxed unrealized gains on household crypto holdings worth more than 800,000 euros ($897,000) when taxpayers transferred their tax residence outside the country, provided they had been tax-resident in France for at least six of the preceding 10 years.
Other crypto-related proposals await debate. One would require reporting self-custodied crypto holdings worth a combined value of at least 100,000 euros ($112,000) to tax authorities, based on their value at year-end. Another would exempt gains on crypto payments for goods and services from tax if the total value of those payments does not exceed 1,000 euros ($1,120) during the tax year. Lawmakers approved a proposal on October 16 to tax gains when crypto assets are converted into fiat-pegged stablecoins; the measure has not become law.