Italian senators approved the document presented on Dec. 24, which approved a 26% tax for cryptocurrency gains above 2,000 euros (approx. $2,060) during a tax period.
The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a 3.5% aliquot for undeclared cryptocurrencies held before Dec. 31, 2021, and a 0.5% fine for each additional year.The Italian parliament greenlighted a new tax for cryptocurrency on Dec. 29, as part of its budget law for the year 2023.
Another incentive included in the budget law will allow taxpayers to cancel their capital gains tax at 14% of the price of cryptocurrency held on Jan. 1, 2023, which would be significantly lower than the price paid when the cryptocurrency was purchased.
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