Italy announces a significant rise in capital gains tax on cryptocurrencies, including Bitcoin, to 42%, as revealed by Vice Economy Minister Maurizio Leo. This strategic move, disclosed during a press briefing on the 2025 budget, targets generating additional funds to bolster family, youth, and business support across the nation. Since 2023, such gains were subject to a 26% tax, a substantial increase from earlier, more favorable rates.
This tax adjustment aligns with global trends, mirroring considerations in the UK to elevate capital gains taxes on digital assets. The Italian government’s approach reflects a broader commitment to fiscal responsibility and economic sustainability, aiming to harness the financial potential of the burgeoning cryptocurrency market.
The revised tax strategy coincides with efforts to reduce cash transactions to curb tax evasion. Despite concerns, Prime Minister Giorgia Meloni assures that the tax reforms are specific and will not impose new burdens on the general populace, reaffirming commitments to structural tax cuts and social welfare enhancements.