France’s National Assembly has postponed its planned vote on the revenue portion of the 2027 state budget, pushing the debate into a new day and leaving hundreds of proposed amendments still unresolved. According to an end-of-session notice from the Assembly after Monday’s sitting, Tuesday’s agenda includes government question time and continued examination of the budget’s revenue section, where 758 amendments remain pending.
The vote delay is the second time lawmakers have postponed action. Earlier, on Oct. 20, the Assembly moved the vote back after more than 2,000 amendments awaited consideration, Le Monde reported. The Assembly still has until midnight on Nov. 17 to complete its first-reading review. If the revenue section is rejected, the government’s original budget proposal will proceed to the Senate without amendments adopted by MPs.
Key takeaways
- France’s National Assembly has delayed the 2027 budget revenue vote again, with the process moving into Tuesday’s agenda.
- 758 amendments are still awaiting examination as lawmakers continue first-reading scrutiny.
- Two proposals to extend France’s exit tax to unrealized crypto gains—linked to moving tax residence abroad—were rejected on Friday.
- Other crypto-focused tax rules are still on the table, including reporting obligations for self-custodied holdings and a small-payment exemption for crypto used to buy goods and services.
Budget revenue vote slips again as amendments pile up
Tuesday’s parliamentary schedule reflects how contentious and amendment-heavy the budget process has become. The Assembly’s notice after Monday’s sitting indicates the vote on the revenue section will not happen as initially planned, instead giving lawmakers more time to work through a large queue of proposals.
For investors and crypto market participants, the timing matters not only because taxes could change, but because budget approval pathways determine how quickly proposals move. The Assembly has a defined deadline—Nov. 17—for completing its first-reading examination. If the revenue section fails at this stage, the government proposal advances to the Senate in its original form, and any amendments already adopted by MPs would not be carried forward through the next chamber.
Exit tax proposals for unrealized crypto gains rejected
On Friday, MPs voted down two separate measures that would have brought crypto assets into France’s exit tax framework—specifically targeting cases where taxpayers transfer their tax residence out of the country.
In one vote, lawmakers rejected a proposal to include crypto assets within the existing exit tax regime. The result, according to the Assembly’s official voting record, was 27 votes in favor, 55 against, and one abstention (voting record).
A second proposal failed with even more opposition. It would have taxed unrealized gains on household crypto holdings worth more than 800,000 euros when taxpayers moved their tax residence abroad. It also required that the taxpayer had been resident in France for at least six of the preceding 10 years. The measure was rejected with 31 votes in favor and 60 against (voting record).
Together, the outcomes suggest that at least for now, lawmakers were not persuaded to treat crypto holding transfers—without realizing a gain—as equivalent to other assets already subject to exit taxation. That distinction is important for cross-border tax planning because exit tax rules can materially change the incentive to hold assets in a given jurisdiction versus moving residence.
More crypto tax and reporting measures still under debate
While exit-tax extensions were rejected, the broader legislative push around crypto taxation and compliance is far from finished. Additional crypto-related proposals are scheduled for further examination.
One measure would require taxpayers to report self-custodied crypto holdings to tax authorities if the combined value reaches at least 100,000 euros, using the value at year-end. The policy targets holdings held outside intermediaries, which historically has made reporting harder for tax administrations.
Another proposal would exempt gains on crypto used for payments for goods and services from taxation, provided the total value of such payments does not exceed 1,000 euros during the tax year. The practical effect would be to narrow when everyday consumer activity involving crypto would trigger tax liabilities—an issue that matters for adoption, but also for how administrable such rules can be.
Separately, lawmakers previously approved a measure on Oct. 16 to tax gains when crypto assets are converted into fiat-pegged stablecoins. However, the measure has not become law, meaning its final status depends on how the budget and related legislative steps develop during the ongoing parliamentary process.
What to watch next in France’s budget process
With the Assembly still working through a large amendment backlog and facing a Nov. 17 deadline to finish first reading, the next key development is whether competing crypto proposals—especially those involving reporting, exemptions, and treatment of stablecoin conversions—gain enough support to survive budget negotiations. Market participants should also monitor the procedural outcome: if the revenue section is rejected, any adopted amendments may not carry forward to the Senate in the same form, potentially reshaping what actually becomes law.
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