The Budget Law 2023, in order to make tax legislation consistent with the evolution of the different types of crypto-activity in the system, introduced changes to the rules governing the taxation of 'crypto-activity", understood as digital representations of values or rights that can be transferred and stored electronically.
In particular, the new rule states that "capital gains and other income realised through refund o cession for consideration, exchange o detention of crypto-activities, however denominated, not less than EUR 2,000 in total in the tax period' constitute miscellaneous income; the part exceeding the threshold of 2,000 euro is subject to substitute tax at the rate of 26 per cent.
Consequently:
- the capital gains derived from the transfer for consideration of foreign currencies, must be indicated in Schedule RT of the Income Tax Return for Individuals;
- Pursuant to Article 4 of Decree-Law No. 160 of 1990, it is compulsory to fill out Form RW of the Personal Income Form (or deThe new Schedule W of Form 730), by individuals resident in the territory of the State who, during the tax period, hold investments abroad and foreign assets of a financial nature liable to produce taxable income in Italy, now including the crypto-activity.
While remaining at your disposal for any doubts or requests for clarification, we would like to take this opportunity to extend our best regards to all.