France Delays 2027 Budget Vote Again as Lawmakers Reject Crypto Exit Tax Proposals

The National Assembly will keep debating the revenue section of the 2027 state budget on Tuesday instead of holding the planned vote. About 758 amendments are still waiting to be examined. This is the second delay, since the original Oct. 20 vote was pushed back when more than 2,000 amendments were pending. Lawmakers have until midnight on Nov. 17 to finish the first reading. If the revenue section is rejected, the government’s original proposal goes to the Senate without any of the amendments MPs adopted.

Crypto Exit Tax Proposals Rejected

On Friday, the Assembly voted down two plans that would have taxed unrealized crypto gains when a taxpayer moves their tax residence abroad. The first, which would have added crypto to the existing exit tax regime, failed with 27 votes for, 55 against and one abstention. The second, aimed at household holdings above 800,000 euros ($897,000) for people resident in France for at least six of the previous 10 years, was defeated 31 to 60.

Other French Crypto Tax Measures Still Pending

More crypto proposals are still waiting for debate. One would require taxpayers to report self custodied holdings worth at least 100,000 euros ($112,000) in combined value at year end. Another would exempt gains on crypto payments for goods and services if the yearly total stays under 1,000 euros ($1,120).

Stablecoin Conversion Tax Not Yet Law

On Oct. 16, lawmakers approved a measure to tax gains when crypto is converted into fiat-pegged stablecoins, but it has not become law.