Italy Intends to Lower Taxes on Crypto Gains to 28%
The Italian government is contemplating revising its proposed tax on crypto gains, which initially stood at a hefty 42%. According to Bloomberg, the suggested revision would reduce the tax28%, as proposed by a coalition partner, Prime Minister Giorgia Meloni’s The League.
The new tax plan, announced during the country’s 2025 budget presentation last month, was met with backlash as it would significantly impact investors and traders in Bitcoin and other cryptocurrencies.
The proposed increase was aimed at utilizing investment-based profits to support Italy’s economy and was a significant jump from the existing 26% tax rate that has been in place since 2023.
However, last week, Italy’s economy minister, Giancarlo Giorgetti, expressed his willingness to reconsider the proposed tax hike. He stated that he would explore alternative forms of taxation for individuals with investments in their portfolio.
Additionally, a report from Reuters stated that the tax increase had caused discontent within Giorgetti’s League party, with lawmaker Giulio Centemero criticizing it as “counterproductive” and calling for more in-depth discussions with market participants.
