Italy Announces Capital Gains Tax on Cryptocurrencies in 2023 Budget.
Italy plans to implement 26% capital gains on Crypto profits.
Regulators aim to encourage crypto asset reporting.
The move follows Portugal’s implementation of a similar tax slab on crypto.
Reports indicate that beginning in 2023, Italy intends to impose a capital gains tax on digital assets in an effort to increase its regulatory foothold in the cryptocurrency industry. Capital gains on digital asset trading of more than 2,000 euros would be taxed at 26%, as stipulated in the country’s budget plans for 2023.
