Italy is planning to raise the capital gains tax on Bitcoin and other cryptocurrencies from 26% to a significant 42%, starting in 2025. This increase aims to generate about €4 billion ($4.35 billion) in revenue, part of the government's strategy to support families, youth, and businesses amid economic challenges. Currently, Italy taxes crypto profits over €2,000 at 26%, and this new hike would make Italy one of the countries with the highest crypto tax rates worldwide.
This decision is likely to impact how Italian crypto investors approach trading and holding assets. Globally, countries like Germany offer tax exemptions for longer-term holdings, while India applies a flat 30% tax on crypto gains.
How do you think this 42% tax could impact Italy's crypto market? Would it discourage investors or lead to a more regulated space?
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Source: CoinMarketCap, Coin Insider, TheNewsCrypto.