Post
Topic
Board Legal
Re: Italy set to hike Bitcoin capital gains tax from 26% to 42%
by
Z-tight
on 15/11/2024, 20:20:15 UTC
Physical assets like land can be taxed/confiscated/seized. BTC cannot.
Surely BTC can be taxed, if you live in countries that have crypto tax laws, then you have to pay your taxes, and if you don't pay, it is tax evasion, which is a crime. However, BTC can only be confiscated in a centralized exchange or custodial service.
"In a significant policy shift, Italy is expected to lower its proposed increase in the capital gains tax on cryptocurrency transactions from 42% to 28%.
That is a 2% increase on the current % for capital gains tax on crypto in the country, it is surely better for crypto users in Italy, 42% would have been crazy and it would have discouraged many Italians from using crypto.