Italian Parliament Approves 26% Crypto Tax in 2023 Budget Law
- Brandon Davis
- January 2, 2023
- Crypto, News
- 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.