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2 min read 16 Oct 2024

Italy: Taxes on Bitcoin increase from 26 percent to 42 percent

By Daniele Corno

Taxes on capital gains generated by Bitcoin in Italy will rise from 26 percent to 42 percent. A significant increase that is already creating debate.

Italy: Taxes on Bitcoin increase from 26 percent to 42 percent

The proposal at a press conference

During a press conference on the 2025 maneuver, a tax increase on Bitcoin was announced.

Deputy Economy Minister Maurizio Leo said that taxes on capital gains will increase from 26 percent to 42 percent.

This increase is related to the growing popularity of Bitcoin among investors.

The announcement was made during the presentation of government measures aimed at raising funds to help families, young people and businesses.

Official confirmation will come with the 2025 budget law. Only then will we know whether the tax increase will affect only Bitcoin or also other cryptocurrencies.

Related is the speech in question on the youtube channel, at minute 22.10.

A “dubious” intervention

In Italy, financial returns have a 26 percent tax. This new proposal would lead to a different tax regime only for Bitcoin, and perhaps for other cryptocurrencies as well. This change has already attracted a lot of criticism.

The Italian community is already discussing this news. Some are concerned that the new taxes may penalize those who invest in cryptocurrencies, creating a different tax treatment than other investments. We await further details, which will come when the proposal is made official.

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