0% or 26%
If cryptocurrencies are held by individuals without speculative purposes, no taxes are to be paid. However, cryptocurrencies can be viewed as a foreign currency trade (e.g. Forex), and therefore If a cryptocurrency wallet holds more than 51,645 euros ($60,000) for more than seven consecutive days in a calendar year, then a taxpayer is liable for 26% tax on any gains made between the purchase price and the exchange price at year-end.
Tax residents of Italy are subject to tax on their worldwide income. Italian tax law differentiates between different categories of income.
Each category of income, including miscellaneous income, is defined by law. These categories include:
- Income from employment;
- Income from self-employment;
- Business income;
- Income from real estate;
- Income from capital (primarily, dividends and interest); and
- Miscellaneous income, including capital gains.
Italy has not enacted specific tax laws to address the taxation of crypto assets, so the general tax rules are applicable. However, the Italian tax authorities have provided guidance on the tax treatment of crypto-assets and have confirmed that cryptocurrencies are to be seen as similar to holding foreign currency.
Disclaimer: This is not a legal, tax, accounting or investment advice. It is general information which should only be used for introduction purposes. You should consult with a tax/legal specialist.