Italy: the amendment on taxes on crypto-assets has been withdrawn

In Italy, the political telenovela regarding taxes on capital gains from the sale of crypto-assets continues.

Initially, the government had proposed to raise them in one go from 26% to 42%, but later reconsidered after numerous protests from various quarters. 

However, the second version of the text of the law still introduced an increase.

The increase to 33% of taxes on crypto-assets in Italy

Even bringing the rate back to 26% for 2025, the new text of the Legge di Bilancio now approved and in force also provides that starting from 2026 the taxation on capital gains from sales of crypto-attività in Italy will rise to 33%.

The new text has also removed the threshold of €2,000 of annual capital gains below which they could be not declared to the State, and therefore not pay taxes on them.

One of the main governing forces that worked to eliminate the increase to 42% was the Lega, which had also promised that it would subsequently work on eliminating the increase to 33% next year. 

In fact, a few weeks ago, after the final approval of the text of the Budget Law, the Lega had presented an amendment that would have brought the taxation to 26% also for 2026.

Today, however, it was discovered that the Lega has withdrawn this amendment.

Italy: the future taxation of crypto

At this moment, for the sales of crypto-assets that occurred in 2025, in Italy the taxation on any capital gains is still 26%. 

Furthermore, by law regarding sales made from January 1, 2026, this rate will rise to 33%.

The fact that the Lega amendment has been withdrawn does not mean that there is no longer a way to modify the rate for 2026, but at this point, such a modification becomes more difficult. 

In fact, the best way to modify the text of the Legge di Bilancio is through the so-called Decreto Legge Milleproroghe. The Lega actually proposed an amendment within the Milleproroghe, but then chose not to mark it as a priority.

It should be remembered that the Budget Law, which is proposed again every year, consists of a text with hundreds of articles that cover hundreds of different topics. This means that the amendments presented by Parliament to modify it are thousands, and Parliament is effectively forced to choose which ones to consider and which ones not to. 

The fact is that those that are a priority are certainly taken into consideration, while the others end up being set aside. Therefore, the decision of the Lega not to place the amendment against the 33% among the priority ones condemns it to not being approved. 

In total, 1,260 were submitted, of which only 368 were identified as priority.

For now, it is not yet known if someone else, or the same Lega, will try to propose this change again in the coming months, or if the increase should now be considered definitive. 

Taxation in other States

In Italy, the current taxation on crypto capital gains at 26% is in line with that of other financial assets. With the shift to 33%, there will be a different tax treatment for capital gains generated from sales of criptovalute compared to those generated from sales of other financial assets.

In other States, however, the alignment of crypto taxation with that of other financial assets predominates. 

However, it should also be noted that while 26% is a figure in line with that of other similar countries, 33% actually turns out to be a bit above average, even though there are other European countries with taxation definitely above 40%.

However, there are also countries that have chosen to completely exempt from taxation those capital gains generated from the sale of assets purchased more than 365 days before the sale. This happens, for example, in Germany, where it is enough to hold crypto in the portfolio for at least 12 months to then be able to sell them without paying taxes on any capital gains. 

Still in Europe, but outside the EU, there are countries like Switzerland where no tax is applied on any capital gains from the sale of financial assets.