Crypto Tax in Italy
Overview
Italy introduced a specific crypto tax framework in the 2023 Budget Law, later updated in 2025. Capital gains from cryptocurrency disposals are taxed at a flat 26% rate, with a de minimis exemption for gains under €2,000 per tax year. Starting from 2026, the rate is set to increase to 33%. Taxpayers had the option to revalue their crypto holdings as of January 1, 2025 by paying a 14% substitute tax. Crypto assets must be reported in the RW section of the tax return for foreign financial monitoring purposes, and are subject to a 0.2% stamp duty (IVAFE) on their value.
Key Points
Flat 26% tax on crypto capital gains (increasing to 33% in 2026), €2,000 annual exemption on gains, 0.2% annual stamp duty (IVAFE) on crypto holdings, Crypto-to-crypto swaps are taxable events, Optional revaluation at 14% substitute tax was available in 2025, Must report crypto in RW section of tax return, Mining and staking taxed as miscellaneous income
Tax Rates
Capital gains: 26% flat rate (2025), moving to 33% from 2026. IVAFE stamp duty: 0.2% on value. Optional revaluation: 14% substitute tax on revalued amount.
Reporting Requirements
Report on annual Modello Redditi PF. Capital gains declared in Section RT. Foreign holdings declared in RW section. IVAFE reported in RW. Filing deadline: November 30 of the following year. Report to Agenzia delle Entrate.
Tips & Recommendations
Take advantage of the €2,000 annual exemption on gains. Consider the cost-benefit of the revaluation option to step up basis. Always report holdings in the RW section even if no gains were realized. Keep records of acquisition costs as LIFO method applies.
Disclaimer: This guide is for informational purposes only and does not constitute tax advice. Tax laws change frequently. Always consult a qualified tax professional for advice specific to your situation.
Related Tax Guides
Crypto Tax in Australia
The ATO (Australian Taxation Office) treats cryptocurrency as a CGT asset. Capital gains rules apply on disposal. A 50% CGT discount is available for assets held over 12 months. The ATO is very active in crypto enforcement — they receive data from exchanges and have sent letters to hundreds of thousands of Australians about unreported crypto gains.
Crypto Tax in Canada
The CRA (Canada Revenue Agency) treats cryptocurrency as a commodity, and gains from disposing of it are generally treated as capital gains (50% inclusion rate) or business income (100% inclusion) depending on the facts. If you're a frequent trader trading as a business, 100% of gains are taxable. Most individual investors get the 50% capital gains inclusion rate.
Crypto Tax in Japan
Japan's National Tax Agency classifies cryptocurrency gains as 'miscellaneous income', subject to progressive income tax rates up to 55% (including local taxes). This is one of the highest crypto tax rates globally. Japan has been working on proposals to reduce crypto tax rates, particularly for long-term holdings, but as of 2024 the high rates remain in effect.
Crypto Tax in Singapore
Singapore has no capital gains tax, making it one of the most attractive jurisdictions for cryptocurrency investors. However, if cryptocurrency trading constitutes a trade or business, the gains are taxable as income at corporate or personal income tax rates. The IRAS (Inland Revenue Authority of Singapore) determines this based on the 'badges of trade' — frequency, volume, and intention.