Italy’s Proposed Crypto Tax Likely to Fall from 42% to 28%

BE[IN]CRYPTO11-13

Italy's proposed 42% crypto capital gains tax faced resistance, with coalition parties pushing for reductions or cancellation. Lega, Italy's second-largest coalition party, advocates for lowering the ...

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Italy may follow as it aligns with the EU's MiCA framework in a growing market.A tax hike on crypto capital gains to 42% proved very unpopular in the Italian Parliament, with governing coalition members filing dissenting amendments. The second-largest party proposed 28%, while the third-largest moved to cancel it.These coalition members will need to agree upon, pass, and implement this tax policy during a huge bull market, making a reduction very likely.Specifically, Lega, the second-largest group in the coalition, proposed an amendment reducing the tax from 42% to 28%. Italy’s current tax rate on crypto gains is 26%, turning this major hike into a minuscule change.For now, even ","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","FI":"费哲金融服务","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4585":"ETF&股票定投概念","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","BK4227":"交易和支付处理服务","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1861217088.USD":"贝莱德金融科技A2","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4588":"碎股","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC"},"translate_title":"意大利拟议的加密货币税可能从42%降至28%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FI":1},"content_text":"Italy's proposed 42% crypto capital gains tax faced resistance, with coalition parties pushing for reductions or cancellation.\nLega, Italy's second-largest coalition party, advocates for lowering the tax to 28%, closer to the current 26% rate, while FI moved to cancel it.\nGlobal trends show relaxed crypto taxes; Italy may follow as it aligns with the EU's MiCA framework in a growing market.\n\nA tax hike on crypto capital gains to 42% proved very unpopular in the Italian Parliament, with governing coalition members filing dissenting amendments. The second-largest party proposed 28%, while the third-largest moved to cancel it.\nThese coalition members will need to agree upon, pass, and implement this tax policy during a huge bull market, making a reduction very likely.\nItaly Might Reduce Crypto Tax\nAccording to a recent report from Bloomberg, a new Italian crypto capital gains tax will likely be lowered from 42% to 28%. Maurizio Leo, a Deputy Economy Minister in the leading Fratelli d’Italia (Fdl) party, proposed these high crypto taxes in mid-October. However, this move proved unpopular with Fdl’s coalition partners, Lega and Forza Italia (FI), who have come out against it.\nItalian Parliament Lower House Composition. Source: Wikipedia \nSpecifically, Lega, the second-largest group in the coalition, proposed an amendment reducing the tax from 42% to 28%. Italy’s current tax rate on crypto gains is 26%, turning this major hike into a minuscule change. \nHowever, even this softer proposal is not set in stone. The third-largest government party, FI, filed a separate amendment to cancel the tax hike entirely.\n\n“We believe that such a tax hike isn’t right. Going from 26% to 42% has a reason that isn’t widely understandable by anyone, whether that be a normal citizen or a large investor,” said Paolo Barelli, the Italian Senator.\n\nNevertheless, Barelli clarified that his party won’t insist on canceling the tax hike outright. Instead, he wished to signal that coalition members should consider several options “in that direction.” The exact future of these amendments is currently uncertain, but previous disasters in crypto tax policy are also being discussed.\nAround the world, crypto tax policies have been loosening in several jurisdictions. For example, South Korea proposed a delay in tax implementation in July, and Japan began reviewing tax laws for possible cuts in September. In October, the UAE even passed an outright exemption.\nIn any event, Italy is preparing to integrate into the European Union’s MiCA crypto framework. The Italian government will have to accommodate international markets and policies in several key areas. Now that the crypto market has entered such an unprecedented bear market, it may increase pressure to loosen these taxes.\nFor now, even Lega’s 2% tax increase is a long way off. These coalition partners will need to decide on a new rate. They will need to pass and implement a new amendment.\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483004584"}