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U-turn on cryptocurrency taxation in Italy

Author: Content Editor
The proposed increase in the taxation of capital gains on cryptocurrencies in Italy from 26% to 42% is facing potential backtracking. The cryptocurrency industry sector in Italy is mobilizing to prevent capital flight abroad, as higher taxes could lead individuals to move their funds to countries with lower taxation. The Lega party is urging politicians to handle the matter with care. A well-known accountant discovered a loophole in the law regulating crypto taxes, which suggests that capital gains from cryptocurrencies should be taxed at a rate of 12.5%, not 26%. Those who have already paid taxes on crypto capital gains may be eligible for a refund. Italy ranks last in AI investments in the EMEA region, but Microsoft has decided to invest €4.3 billion in Italy to strengthen digital infrastructure and AI development.

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