Italy is advancing a proposal to reduce the planned capital gains tax on cryptocurrencies to 28%, a move aimed at fostering a more favorable environment for crypto investors.
The League, a key member of Prime Minister Giorgia Meloni’s coalition, has proposed an amendment to cap the tax rate at 28%, down from the originally suggested 42% in the October budget draft. This adjustment is expected to boost investor confidence, as the higher proposed tax rate had raised concerns about Italy’s attractiveness as a hub for cryptocurrency investments.
The amendment is likely to receive support from Meloni’s administration, signaling a shift toward crypto-friendly policies in the country. The initial 42% tax increase was part of a broader economic strategy aimed at raising revenue for Italy’s 2025 budget. However, industry stakeholders argued that such a steep rate could discourage crypto-related activities. The League’s compromise at 28% remains above the current 26% but is a significant reduction from the proposed 42%, with additional changes still possible before the proposal’s final approval.
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