Rome, Italy – The Italian government is proposing a significant increase in capital gains taxes on Bitcoin and other cryptocurrencies as part of its 2025 budget. The tax rate would jump from 26% to 42%, a move aimed at generating additional revenue for the country.
This proposed change marks a sharp departure from the current tax regime, which was only introduced this year and saw a reduction in taxes on crypto gains compared to previous years. The new measure would effectively double the tax burden on investors profiting from cryptocurrency transactions.
The announcement comes amidst discussions in other countries, such as the UK, about potentially raising capital gains taxes on cryptocurrencies. If implemented, Italy’s proposed tax hike would make the country one of the more heavily taxed jurisdictions for cryptocurrency investments in Europe.
In addition to the tax increase, the Italian government is also considering measures to crack down on cash usage, a move aimed at combating tax evasion.