The Italian Parliament approved amendments to the 2023 budget, which involve the introduction of a 26% tax on capital gains received from the trading of digital assets.
The Budget legitimizes crypto assets by defining them as “a digital representation of value or rights that can be transferred and stored electronically using distributed ledger technology or similar.”
Tax will be levied on profits over €2,000 ($2,145).
Stamp duty will be applied to cryptocurrencies. Citizens will have an obligation to inform the tax authorities about such investments.
Previously formed by Georgia Meloni, the cabinet called on the citizens of the country to disclose the value of digital assets as of January 1, 2023 and pay a tax of 14%.