The Italian government is likely to approve a milder tax increase on crypto trades, Bloomberg reported Tuesday, citing sources with knowledge of the matter.
The country’s government under Prime Minister Giorgia Meloni reportedly intends to accept a proposal from The League, a junior partner in Meloni’s coalition, which has set the crypto tax increase limit to 28%. Italy currently levies a maximum of 26% on crypto trades.
Last month, it was reported that Maurizio Leo, Italy’s vice economy minister, announced a steep rate hike in bitcoin gains tax to 42% during a press conference on the country’s budget for 2025.
The League’s proposal also contains an amendment to have the country establish a permanent working group consisting of crypto firms and consumer associations to educate investors on digital assets.
According to the Bloomberg report, a separate amendment from another coalition party Forza Italia, proposed abandoning the crypto tax increase entirely and remove the tax exemption for gains of €2,000 ($2,120) or less.
Italy’s 26% tax on crypto gains of above €2,000 came in the 2023 tax year, representing a shift from the previous treatment of crypto as foreign currency, which had lower tax rates.
The crypto tax rate increase, once determined, will be revised by Italian lawmakers before approval and implementation.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
