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Binance and taxes in France
If you have a Binance and reside in France, you need to be aware of your tax obligations to avoid any errors when filing your tax return. Do you need to declare your Binance ? What taxes apply to cryptocurrency earnings? What solutions exist for calculating your taxes with Binance ? This comprehensive guide provides clear and detailed answers.
Table of contents
Do I need to declare a Binance account to the tax authorities in France?
According to Cryptoast Binance users residing in France are not required to declare their accounts as foreign accounts using form 3916-bis , because Binance has a registered branch in France under the name Binance France SAS . Indeed, since its registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority (AMF) in May 2022, Binance is recognized as an entity legally operating in France. This distinction means that French users' accounts are linked to a local entity and not a foreign platform, thus exempting them from the reporting requirements for accounts held outside of France.
How are profits made on Binance taxed in France?
Since 2019, gains from cryptocurrencies have been subject to a specific tax regime in France.
1. The exemption threshold of €305
Transactions not exceeding €305 per year are tax-exempt. Above that amount, gains become taxable .
2. Capital Gains Tax on Binance
If you exceed this threshold, your earnings are subject to the Single Flat-Rate Levy (PFU) , also known as the flat tax , of 30% . This rate includes:
- 12,8 % income tax
- 17,2 % social security contributions
Example: If you buy Bitcoin on Binance for €5,000 and sell it for €8,000 , you make a capital gain of €3,000 . You will therefore have to pay €900 in taxes (€3,000 x 30%) .
3. Declare your capital gains on Binance
To declare your cryptocurrency earnings, you must complete two forms when filing your tax return:
- Form 2086 : details each cryptocurrency transaction
- Form 2042 C : allows you to include capital gains or losses in your main tax return
How to calculate your taxes with Binance ?
Calculating capital gains can quickly become complicated, especially if you make numerous transactions or use multiple platforms. Fortunately, tools exist to automate these calculations and generate your tax returns.
1. Binance Tax Calculator
Binance offers its own tax calculator , the Binance Tax Calculator . This tool is useful if you only use Binance for your transactions. It allows you to:
✔ Generate a tax report based on your Binance
✔ Track your gains and losses
✔ Export a summary file
⚠ Limitation: Binance only considers transactions made on Binance . If you use other DeFi , you will need a more comprehensive solution.
2. Comprehensive tools for declaring your crypto taxes in France
If you use multiple exchanges ( Binance , Kraken , Coinbase , etc.), decentralized wallets , or engage in staking and yield farming , you will need a more advanced tax tool .
🔹 Waltio
✅ French platform specializing in crypto taxation
✅ Automates capital gains calculation and the generation of French tax forms
✅ Compatible with Binance and other platforms
🚀 Ideal for French tax residents
🔹 CryptoTaxCalculator
✅ Automatically imports transactions from over 800 platforms
✅ Allows you to categorize transactions by type (
trading , staking , NFT, DeFi, etc.) ✅ Generates detailed reports compliant with French legislation
🔹 Koinly
✅ One of the world's most popular tools
✅ Manages both centralized exchanges and
DeFi protocols ✅ Supports automatic transaction import
✅ Simplified tax report generation
⚠ Tools like Waltio, Koinly, or CryptoTaxCalculator support Binance , as well as other crypto platforms and wallets. They are recommended if you have diversified investments.
FAQ: Answers to frequently asked questions about Binance and taxes in France
1. How are profits on Binance taxed in France?
Cryptocurrency gains are subject to a 30% tax , unless the total annual sales are less than €305 .
2. Is Binance Tax sufficient for filing my taxes?
Yes, if you only use Binance . Otherwise, use Waltio, CryptoTaxCalculator, or Koinly for a more comprehensive statement.
3. Can I reduce my taxes using cryptocurrencies?
It is possible to deduct losses from future gains. If you sell at a loss, this can be offset against capital gains in the same tax year.
Conclusion: Don't neglect your tax obligations on Binance !
Cryptocurrency taxation in France is strict, and tax audits are becoming increasingly frequent. To avoid mistakes and optimize your tax return, follow these tips:
✔ Use a suitable tax tool ( Binance Tax, Waltio, Koinly, etc.)
✔ Declare your earnings and respect tax deadlines
By following these rules, you avoid penalties and ensure your compliance with the French tax authorities.
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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Yoann
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
