Italy's lawmakers have raised objections to the government's proposal to raise capital gains taxes and expand the regulation of crypto assets. The measures, which are key components of Prime Minister Giorgia Meloni's 2024 budget, have faced backlash for potentially hampering innovation and negatively impacting small businesses.
Push for Crypto Tax CompromiseEconomy Minister Giancarlo Giorgetti proposed raising cryptocurrency capital gains taxes from 26% to 42%, aligning them with other financial income. However, some members of his ruling coalition are reportedly opposing the steep hike and suggesting capping the tax increase at 28%, Reuters reported.
Amid the internal rift, Giorgetti has signaled a willingness to reconsider, exploring alternative taxation structures to resolve the disagreement. Debates also center on Italy’s digital tax, a levy introduced in 2019 targeting tech giants like Meta, Google, and Amazon. This restriction aims to strike a balance between generating revenue and maintaining market competitiveness.
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