Italy Considers Raising Crypto Tax Gains to 42%
The Italian government is considering raising the capital gains tax on cryptocurrencies, including Bitcoin, to fund its 2025 budget. Deputy Economy Minister Maurizio Leo revealed the plan during a news conference at Palazzo Chigi. The government could raise the withholding tax on Bitcoin’s capital gains from 26% to 42%.
This proposal is part of the 2025 budget bill that the Council of Ministers recently approved. The Italian government introduced the 26% levy in 2022 for the country’s 2023 budget. At the time, all crypto-related transactions worth over €2,000 ($2,178) were subjected to a 26% tax on capital gains.
The government plans to raise the levy to 42%, as proposed in the 2025 budget. Following the increase, Bitcoin traders must pay a fee of €840 ($915) for a €2,000 BTC transaction. Currently, traders pay €520 ($566) tax for transacting a similar amount with the current rate of 26%. The Italian Parliament has yet to approve the new tax measures, with a final vote expected by the end of the year.
