The French National Assembly has pushed back its scheduled vote on the revenue section of the 2027 state budget, choosing instead to continue high-stakes legislative debates on Tuesday. This decision comes as lawmakers grapple with a massive backlog of pending amendments and a deeply divided political landscape in Paris.
According to the Assembly’s official end-of-session notice following Monday’s sitting, Tuesday’s legislative agenda will feature the customary question-and-answer period directed at members of the government, immediately followed by the continuation of the budget debate. Lawmakers still face a daunting mountain of paperwork, with 758 amendments awaiting formal examination before the first phase of the fiscal roadmap can be finalized.
This latest rescheduling represents the second major delay for the revenue section vote. The original vote, initially scheduled for Oct. 20, was previously postponed when more than 2,000 amendments were still pending debate, according to reports from the French daily newspaper Le Monde. The repeated delays underscore the immense friction surrounding fiscal policy in the National Assembly, where competing political factions are using the budget process to push contrasting economic visions.
Time is rapidly running out for the lower house of parliament to complete its work. The National Assembly is constitutionally bound to complete its first-reading examination of the revenue section by midnight on Nov. 17. Under French legislative rules, if the revenue section is ultimately rejected by the Assembly, the government’s original, unamended budget proposal will bypass further local alterations and move directly to the Senate without incorporating the specific amendments adopted by members of parliament.
France Rejects Crypto Exit Tax Proposals
Amid the broader budgetary sparring, the National Assembly has turned its attention to several contentious taxation measures targeting the digital asset sector. In a series of crucial votes on Friday, French lawmakers decisively rejected two separate proposals that sought to introduce exit taxes on unrealized cryptocurrency gains for individuals transferring their tax residence abroad.
In the first legislative showdown, lawmakers voted down a broad proposal that aimed to integrate digital assets directly into the country’s existing, comprehensive exit tax regime. According to the Assembly’s official voting record, the measure failed to secure a majority, drawing 27 votes in favor, 55 against, and a single abstention. Proponents of the measure had argued that tightening rules around departing taxpayers was essential to preventing capital flight, while critics raised concerns about the administrative feasibility of taxing paper gains on volatile digital assets.
A second, more targeted proposal met a similar fate on the assembly floor. This measure would have specifically taxed unrealized gains on household cryptocurrency holdings valued at more than 800,000 euros, equivalent to approximately $897,000. The tax would have been triggered whenever a taxpayer chose to transfer their tax residence outside of France, provided they had maintained official tax residency within the country for at least six of the preceding ten years. That specific provision was defeated after securing 31 votes in favor against 60 opposing votes.
Despite the rejection of the exit tax proposals, the broader digital asset debate within the 2027 budget framework is far from over. Several other crypto-related amendments remain queued for future debate in the chamber. Among these is a controversial reporting requirement that would mandate taxpayers to declare self-custodied cryptocurrency holdings with a combined year-end value of at least 100,000 euros, roughly $112,000, directly to French tax authorities.
Another proposal slated for consideration aims to simplify micro-transactions by exempting gains realized on cryptocurrency used to pay for everyday goods and services from taxation. This exemption would apply provided that the total value of such payment transactions does not exceed 1,000 euros, or about $1,120, during the course of the applicable tax year.
These ongoing discussions follow an earlier legislative milestone achieved on Oct. 16, when lawmakers successfully approved a proposal designed to tax gains arising specifically when cryptocurrency assets are converted into fiat-pegged stablecoins. Despite receiving initial approval from the committee or assembly floor during those earlier sessions, that specific measure has not yet formally become law as it awaits the conclusion of the broader parliamentary budget process.
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