• December 5, 2023


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Italy Set to Levy 26% Tax on Crypto Profits

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The Italian Parliament has recently approved amendments to the budget of this year that include the introduction of a 26% tax on profits made on cryptocurrency.

According to sources, the amendments legitimize crypto assets by defining them as “a digital representation of value or rights that can be transferred and stored electronically using distributed ledger technology or similar.”

It is important to take into account that not all crypto profits will be taxed, as only users making more than 2,000 euros will have to pay this new tax.

After the tax is finally introduced, Italian citizens will have an obligation to inform the tax authorities about such investments.