The post Italy Cuts Crypto Tax To 28% Sparking Optimism For Investors appeared on BitcoinEthereumNews.com.

The Italian government is reportedly advancing a proposal to reduce the planned increase in crypto capital gains tax to 28%, a move anticipated to support investor interest. The League, a key member of Prime Minister Giorgia Meloni’s coalition, has submitted an amendment to cap the proposed tax rate at 28% rather than the initially suggested 42% outlined in the October budget draft. Italian Government Cuts Proposed Crypto Tax to 28% From 42% According to sources, Prime Minister Giorgia Meloni’s administration is likely to back the League’s amendment, which could mark a shift toward more favorable crypto policies in Italy. The initial proposal to raise the tax rate to 42% was part of a broader economic plan aimed at increasing revenue for the 2025 budget. However, industry representatives expressed concerns that such a high rate would make Italy less attractive for cryptocurrency-related activities and investments. The League’s amendment suggests a compromise, setting the tax rate at 28%, which would still be above the current 26% but considerably lower than the initially planned 42%. Sources close to the government have noted that further adjustments to the proposal are still possible before it receives final approval. Coalition Proposals Aim to Address Investor Concerns In addition to the League’s amendment, Forza Italia, another coalition party, has proposed separate adjustments. This proposal seeks to scrap the crypto tax increase altogether and eliminate the current tax exemption for gains below €2,000. Both proposals suggest a willingness within Italy’s governing coalition to reconsider tax policies to attract and retain digital asset investments. Moreover, the League’s proposal includes establishing a permanent working group with representatives from digital-asset firms and consumer organizations. The objective is to promote transparency and provide resources to educate investors about crypto tax.  Although no final decision has been made, sources close to the matter…

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Filed under: News - @ November 13, 2024 3:25 am