Industry representatives argued that such a tax hike could reduce Italy’s attractiveness for blockchain businesses and investors.
The Italian government, after concerns over the negative impact of increased cryptocurrency taxes, has decided to reduce the tax rate to 28%. Initially, the government had proposed raising the cryptocurrency tax from 26% to 42%, but this faced significant opposition from the cryptocurrency industry. Industry representatives argued that such a tax hike could reduce Italy’s attractiveness for blockchain businesses and investors. In response to these concerns, the new tax amendment has been reduced to 28%, close to the previous 26% rate. This new tax policy is now awaiting government approval and is expected to be ratified soon.
Source: Bravenewcoin.com
