Calculating crypto tax in France is based on the Weighted Average Price (WAP) method, a unique European approach that considers your entire portfolio at each disposal. Here is how it works in practice.
The WAP method: basic principle
The French method does not calculate the gain on each crypto sold individually. It treats your entire crypto portfolio as a global entity and calculates the taxable fraction of each disposal proportionally.
Formula: Taxable gain = Disposal proceeds − (Total acquisition cost × Disposal proceeds / Total portfolio value at time of disposal).
This is more complex than FIFO, but has an advantage: if your overall portfolio is at an unrealised loss, even a profitable disposal can generate a tax loss.
Worked example: step by step
You bought 1 BTC at €20,000 and 5 ETH at €2,000 each (total cost: €30,000). You sell 0.5 BTC when BTC is worth €40,000 and ETH is worth €3,000.
Disposal proceeds: 0.5 × 40,000 = €20,000. Total portfolio value: 1 BTC × 40,000 + 5 ETH × 3,000 = €55,000.
Capital gain = 20,000 − (30,000 × 20,000 / 55,000) = 20,000 − 10,909 = €9,091. Tax (30%): €2,727.
30% flat tax: breakdown and options
The PFU (Prélèvement Forfaitaire Unique) of 30% breaks down as: 12.8% income tax + 17.2% social contributions (CSG/CRDS).
Taxpayers with a marginal tax rate below 12.8% can opt for the progressive scale. This option applies to all capital income, not just crypto.
Crypto losses can be offset against crypto gains in the same year but cannot be offset against ordinary securities gains.
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Try SafeTax for freeFrequently asked questions about crypto tax calculation in France
What is the crypto tax rate in France?
The standard rate is the PFU (flat tax) of 30%: 12.8% income tax + 17.2% social contributions. Taxpayers with a lower marginal rate can opt for the progressive scale.
How does the WAP method work?
The WAP method calculates the gain in proportion to the value of what you sell relative to your entire portfolio at the time of disposal.
Does SafeTax automatically apply the WAP method?
Yes. SafeTax applies the French WAP method to each disposal, taking into account your entire portfolio at the time of each transaction.