Italy Intends to Raise Capital Gains Tax on Bitcoin

The Italian government is exploring a significant increase in the capital gains tax for Bitcoin investments, raising it from the current 26% to a substantial 42%.

This proposal was announced by Deputy Economy Minister Maurizio Leo during a press conference on October 16, following the approval of Italy’s new budget bill by the Council of Ministers.

The budget bill includes plans to increase the withholding tax on Bitcoin capital gains to 42%. Additionally, the bill aims to eliminate the minimum revenue requirement for Italy’s Digital Services Tax (DST).

The DST currently applies to companies that generated at least 750 million euros in the previous calendar year and at least 5.5 million euros in revenue from digital services operated in Italy.