Italian Parliament Approves 26% Crypto Tax in 2023 Budget Law

• Akansha Gupta
• January 2, 2023
• Crypto, News
• 0 Comments

• The Italian Parliament imposed a 26% capital tax on crypto gains as part of the 2023 budget bill, enacted on Dec. 29.

• Senators approved a 26% aliquot on crypto gains exceeding 2,000 euros ($2,060) for a tax period on Dec. 24.

• The proposal considers taxing the free transfer of cryptocurrencies and the fees crypto exchanges and other crypto companies charge to facilitate cryptocurrency transactions.

• The approved document offers incentives for taxpayers to reveal crypto holdings, including amnesty on profits, a 3.5% “substitute tax,” and a 0.5% annual fine.