Italy cryptocurrency tax guide

What this guide covers

This guide covers Italy's individual crypto tax regime for the 2025 tax year, based on secondary tax-press reporting of the 2025 Budget Law (Law 207/2024), which amended the crypto tax rules. agenziaentrate.gov.it itself wasn't directly fetched in this research pass. This is educational information, not individualized tax advice.

Tax treatment of cryptocurrency

Italy taxes your crypto gains through a dedicated flat substitute tax (imposta sostitutiva), not its ordinary progressive income tax brackets — a deliberately flat-rate approach similar in shape to France's PFU, but with a higher, since-increased rate and no small-gains exemption as of 2025.

Common taxable events

• Disposing of crypto for a gain (selling, swapping, or otherwise realizing value) — taxed under the imposta sostitutiva regime.
• This guide does not independently confirm Italy's specific treatment of staking, mining, or airdrop income from an official source in this pass — treat as requiring direct confirmation.

Potentially non-taxable events

• For the 2024 tax year, gains were reported as exempt up to a €2,000 annual threshold. But this exemption was eliminated starting 1 January 2025, so it does NOT apply to the 2025 tax year covered by this guide.
• Secondary sources report genuine uncertainty about which rate applied to gains realized in 2023 and 2024 specifically. The Agency reportedly issued FAQ guidance allowing refund claims where the allowance wasn't properly applied on 2024 returns, for 2023 income. This guide doesn't resolve the 2023/2024 question and flags it as a known area of dispute.

Tax rates and thresholds

A flat 26% substitute tax applies to your crypto gains realized in the 2025 tax year, confirmed via the 2025 Budget Law, with NO annual exemption threshold — the prior €2,000 threshold was eliminated from 1 January 2025. The rate rises to 33% from 1 January 2026 onward (Article 24) — a figure negotiated down from an initial 42% draft proposal during the budget process — relevant for readers filing for a later year, not the 2025 year this guide covers. The same Budget Law also offered an optional revaluation election: you could elect to revalue crypto held as of 1 January 2025 at an 18% substitute tax rate, with payment due by 30 November 2025, a deadline that has now passed. This affects the cost basis for future disposals of revalued assets, not the ongoing 26% rate on new gains.

Cost basis and calculation

Your gain is disposal proceeds minus acquisition cost under the imposta sostitutiva framework. If you elected the 1 January 2025 revaluation option, you'd use the revalued amount as your cost basis for crypto covered by that election going forward. This guide doesn't reproduce the full revaluation mechanics.

Reporting and compliance

• Gains are reported as declared via the annual tax return (Modello Redditi or 730, depending on the taxpayer's filing category) under the specific crypto-asset reporting framework.
• This guide does not independently confirm the exact 2025-tax-year filing deadline or form-level field references — confirm directly with the Agenzia delle Entrate.

Residency and cross-border issues

Your Italian tax residency governs whether your worldwide crypto gains fall within this regime. Using a foreign exchange doesn't, by itself, change this for a resident taxpayer. This guide doesn't cover non-resident-specific rules or double-taxation treaty interactions in depth.

Example

This example is hypothetical, for illustration only. Giulia sells crypto in 2025 for a €5,000 gain. The €2,000 exemption no longer applies starting 1 January 2025, so the entire €5,000 is taxed at the flat 26% substitute tax rate — approximately €1,300 — regardless of the gain's size. Under the pre-2025 regime, a small gain under €2,000 would have been exempt entirely.

Official resources

• Agenzia delle Entrate: https://www.agenziaentrate.gov.it/

Limitations and review information

Tax year covered: 2025. Last verified: October 28, 2026 (citation-integrity pass; replaced an inaccurately-linked citation with EY and Rödl & Partner, both read directly). Known verification gap: agenziaentrate.gov.it and the Gazzetta Ufficiale's own text were not directly fetched; the 2023/2024 transition-year rate question and crypto-specific staking/mining treatment were not independently confirmed. This is educational information only, not individualized tax advice — confirm current specifics directly with the Agenzia delle Entrate or an Italian tax professional.