PANews reported on November 13 that according to Bloomberg, citing people familiar with the matter, the government led by Italian Prime Minister Giorgia Meloni may approve a proposal by coalition partners to reduce the tax increase on cryptocurrency transactions. A copy of the proposal shows that the League Party, as a junior partner in Meloni's ruling coalition, has proposed an amendment to limit the tax rate on crypto transactions to 28%, while the initial proposal to increase it to 42% in last month's budget. The current tax rate is 26%. In addition, another ruling coalition party, Forza Italia, proposed another amendment that aims to completely cancel the tax increase and cancel the tax exemption for earnings of 2,000 euros (2,120 US dollars) or less.
As part of the amendments proposed by the League, Italy will set up a permanent working group consisting of digital asset companies and consumer associations to educate investors about cryptocurrencies. The government is likely to approve the League's proposal, although no final decision has been made and it could be amended, two people familiar with the matter said.
