Italy introduces 26% tax on cryptocurrency
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The Italian government has announced a 26 per cent tax on cryptocurrencies. This new tax will be levied on income derived from transactions in digital currencies and will affect both individuals and companies that own or trade in them.
The decision was made in response to the growing worldwide interest in cryptocurrencies and the revision of tax policies by governments to account for the new asset class. The new tax rate in Italy corresponds to the standard capital gains tax rate in the country, effectively removing the previously tax-free status of cryptocurrencies.
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