Your Guide to Crypto Taxes in Italy: File with Confidence

Wondering what to do about your crypto taxes in Italy this year? You’re not the only one.

Italy’s tax rules around crypto are changing, and depending on when you bought or sold, your obligations may look very different. But with the right guidance—filing doesn’t have to be stressful.

Let’s break it down so you can file with confidence.

Is Crypto Taxed in Italy?

Yes. Whether you sold your crypto, swapped it, or earned it, crypto is taxable in Italy. The specific rate and method depend on:

• When you sold your crypto

• Whether you made a profit

• If you opt for the alternative portfolio tax

Here’s when taxes typically apply:

• Selling crypto for a profit (capital gains)

• Earning crypto via mining, staking, or other rewards

• Holding significant assets (reported as foreign holdings)

What’s Not Taxed

Here’s what you don’t need to report:

• Buying crypto with euros

• Transferring crypto between your own wallets

• Holding crypto (unless opting for the alternative portfolio tax)

What’s Changing in 2025?

• Capital gains from crypto are taxed at 26% in 2025—but that jumps to 33% in 2026

• The €2,000 annual exemption has been removed starting January 1, 2025

• A new option: pay an 18% flat tax on the value of your crypto as of January 1 instead of tracking gains. (must be chosen and paid by June 30, 2025)

📌 If you’re reporting 2024 gains, the €2,000 exemption still applies.

How to Calculate Your Crypto Gains

1. Determine Your Cost Basis

Add up what you paid for crypto—including any fees. For example: if you bought 1 ETH for €800 and paid a €10 fee, your cost basis is €810.

2. Use the LIFO Method

Italy recommends the LIFO (Last In, First Out) method, which means your most recently acquired crypto is considered the first one you sell.

3. Calculate Your Gain or Loss

Subtract your cost basis from the sale price to figure out your profit. If you swapped crypto for another asset, use the fair market value on the day of the transaction.

⚖️ Crypto earned through mining or staking is taxed as personal income (IRPEF), at rates between 23% and 43%.

How to Report Crypto Taxes in Italy

You’ll report crypto taxes through one of two forms:

• Modello 730 – for employment income (due by September 30)

• Modello Redditi – for capital gains and foreign assets (due by October 15)

  • Includes Form RT (capital gains)

  • Includes Form RW (foreign assets like crypto)

Note: If you store crypto outside Italy (foreign exchanges or self-wallets), you’ll owe a 0.2% IVAFE wealth tax on the reported value. IVAFE is based on the end-of-year or highest annual portfolio value and must be reported on Quadro RW

Use the Agenzia Entrate portal to file online.

Crypto Tax Filing Tips

1. Track Your Activity

Keep records of all your trades and transfers throughout the year. Don’t wait until tax season.

2. Export Your bunq Bank Statements

If you used bunq for crypto-related activity, your transaction history is ready whenever you need it:

1. Open the bunq app and tap your Profile in the top left

2. Select ‘Accounting’

3. Tap ‘Export Bank Statement’

4. Choose your date range and file format (PDF, CSV, or MT940)

5. Tap ‘Export Statement’

This will include all relevant transactions across your bunq accounts, which is helpful when calculating your crypto tax declaration.

Visit help.bunq.com for more information on this topic.  

3. Use a Local Tax Tool

Tax rules vary by country. Use a local tax platform or speak with a certified advisor who understands crypto investing in the EU. This helps ensure you file accurately and avoid any surprises.

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Crypto Taxes in Italy? bunq Makes It Easier

With Italy’s crypto tax laws evolving, it’s never been more important to stay organized and compliant. Whether you’re just getting started or growing your portfolio, bunq gives you the tools and insights to report with confidence.

Please note: Italy's ongoing alignment with Markets in Crypto-Assets Regulation (MiCA) may alter reporting, consumer protection, and business requirements in late 2025 and beyond.

Sources:
Kraken: Italy Crypto Tax Guide