its budget for 2023, which included an increase in taxation for crypto investors — a 26% tax on capital gains on crypto-asset trading over 2,000 euros .
The approved legislation defines crypto assets as “a digital representation of value or rights that can be transferred and stored electronically, using distributed ledger technology or similar technology.” Previously, crypto assets were treated as foreign currencies in the country, with lower taxes., the bill also establishes that taxpayers will have the option to declare the value of their digital-asset holdings as of Jan.
Other changes introduced by the budget law include tax amnesties to reduce penalties on missed tax payments, fiscal incentives for job creation and a reduction in the retirement age. It also includes 21 billion euros of tax breaks for businesses and households dealing with the energy crisis.Giorgia Meloni, the first woman to serve as Italy’s prime minister, received wide support for her bill from the legislative body, even though she promised dramatic tax cuts when elected in September.
According to local media reports, measures from Italy’s government to reduce gas consumption across the country including over 15 days without central heating for buildings, with the population being asked to turn their heating down one degree and turn it off one hour more per day during the winter.
50% in Canada. 26% sounds like a dream from here
It boggles me how high the tax rate is. The governments are thieves.
For my Italian mates : Invest, never sell, next bull run, Dubai, problem solved for good 🥂🎉
The Matrix in italy is FUCKING REAL
dottor_eth
This is why you don’t sell your Bitcoin
„I lost everything in a boating 🛶 accident“. 🥲🤝
The bill also establishes that taxpayers will have the option to declare the value of their digital-asset holdings as of Jan. 1 and pay a 14% tax, incentives that are intended to encourage Italians to declare their digital assets.
Noi che abbiamo perdite del 40/50% AHAHAHAHAH
Yikes.
Can anyone send me a tip please? SendTips
t::
As I've said they will tax crypto into the ground folks
TAXED And those people who lost their money in crypto does the government will pay back? .Or the government only wants profits?
Well, the fact that they have moved from the definition of cryptocurrencies as a 'foreign currency' to 'value or rights' is already progress, but about taxation is just another attempt to force people to declare their income in order to control 🙄
That's quite a tax! A shame that more countries are not revolutionizing their finance services with DeFi to offer incentives to incentivize growth and adoption. crypto DeFi
thats why we don't ever sell. collateralised loans dont get taxed...
That's a shame! Cryptos have great potential for economic liberation. Too bad for Italian HODLers. DeFi is here to stay!
That's a shame! Cryptos have great potential for economic liberation. Too bad for Italian HODLers. DeFi is here to stay!
Monero fixes this. PrivacyisNormal FungibilityMatters
Capital gain guys? Any profit in 2022 ? Lol
Cast your votes and BeYourOwnBank
Short-term capital gains (assets held for less than a year) generally are taxed in the US at the same rate as your ordinary income tax anywhere from 10% to 37%
And with that, you will see a sharp decline in crypto-related activity in Italy throughout 2023.
its become real this year 2023 crypto vs regulators
It is italy, corruption everywhere. I would not tell the gouverment about my crypto's.
Mortacci loro
Yeah! We love to pay our state ❤️
Regulating with high taxes on selling/transferring of Bitcoin gives hodlers incentive to hodl
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