Italy to Raise Bitcoin Capital Gains Tax to 42% in 2025 Budget Plan

Oct 16, 2024, 10:35 AM

Italy is planning to raise its capital gains tax on Bitcoin and other cryptocurrencies from the current 26% to 42%, according to Deputy Finance Minister Maurizio Leo. The proposed increase, announced during a press conference on October 16, is part of the government's 2025 budget aimed at financing election promises, supporting families, youth, and businesses, and reducing the fiscal deficit. The new tax rate would apply to investments exceeding €2,000, reflecting the government's response to the growing popularity of cryptocurrencies, which Leo referred to as a spreading phenomenon. This move could significantly impact Italy's digital finance landscape.