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Tax on crypto-assets in Italy — work out the 33 % substitute tax on your gains

From 1 January 2026, gains on crypto-assets bear a 33 % substitute tax with no tax-free allowance: on a 5,000 euro gain you pay 1,650 euros. E-money tokens pegged to the euro stay at 26 %. If you cannot document the purchase cost with clear and precise evidence, the cost is taken as zero; losses can only be offset against crypto gains and carried forward for up to four years.

2026 rules — verified on September 25, 2026Free, no account

This content is part of the path: Investing and declaring financial income· Step 6 of 10· Next step: Italian stamp duty on securities accounts — the 2 per thousand

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Sources and assumptions

  • Gazzetta Ufficiale — L. 30 dicembre 2024 — tax year 2026, verified on September 25, 2026
    Excerpt from the source : « realizzati a decorrere dal 1° gennaio 2026, l'imposta sostitutiva di cui agli articoli 5, 6 e 7 del decreto legislativo 21 novembre 1997, n. 461, e' applicata con l'aliquota del 33 per cento. »
  • Gazzetta Ufficiale — L. 207/2024 — tax year 2026, verified on September 25, 2026
    Excerpt from the source : « Le disposizioni di cui al primo periodo si applicano con l'aliquota del 26 per cento, in luogo di quella ordinaria del 33 per cento, ai redditi diversi e agli altri proventi di cui alla lettera c-sexies) [...] derivanti da operazioni di detenzione, cessione o impiego di token di moneta elettronica denominati in euro »

Calculation assumptions

  • The taxpayer is an individual resident in Italy acting outside any business activity.
  • The disposals take place in 2026: those completed by 31 December of the previous year were taxed at 26 %.
  • Each simulation covers a single category: ordinary crypto-assets or euro e-money tokens. Swaps between crypto-assets with the same characteristics and functions are not taxable and should not be entered.
  • The rules applied are those in force for the 2026 tax year: from 1 January 2027 the new consolidated income tax act (Legislative Decree 117/2026) takes over.

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This result is provided for information purposes only and does not constitute personalised tax advice. Check your situation with the tax authorities or a professional.