Italian Users Will Have to Pay a 26% Tax on Crypto Profits

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The Italian Parliament has recently approved a series of amendments to the 2023 budget that involve the introduction of a 26% tax on capital gains received from the trading of digital assets.

According to sources, the budget legitimizes 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.”

Tax will reportedly be levied on profits over €2,000.

The stamp duty will be applied to cryptocurrencies and citizens will have to inform the tax authorities about investments of this type.

The cabinet has called on the citizens of the country to disclose the value of digital assets as of January 1.

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