Module 120 min2033 wordsFree — no account
What Italy taxes on crypto-assets and how the gain is worked out
The module’s worked examples, then cases to attempt before revealing their solution · 5 sections · 418 words · 5 min
Worked example
A sale with no proof of cost
In 2026 Stefano sells crypto-assets for 6,000 euros. He remembers paying about 4,000 euros, but the exchange where he bought them no longer exists and he kept nothing. Without certain and precise evidence the cost is zero: the gain is 6,000 euros and the tax at 33% is 1,980 euros, instead of the 660 euros due on a documented 2,000 euro gain.
Worked example
Swapping for a crypto-asset with different functions
Marco gives up a token he bought for 2,000 euros and receives a crypto-asset with different characteristics and functions, whose normal value at the time of the swap is 3,500 euros. Normal value stands in for the price: the gain is 3,500 − 2,000 = 1,500 euros and the tax at 33% is 495 euros, even though Marco has not received a single euro in cash.
Worked example
Rewards for holding
During 2026 Irene receives new units worth 800 euros in total from the service that looks after her crypto-assets, as a reward for holding them. No deduction is allowed: the substitute tax at 33% is 800 × 33% = 264 euros.
Worked example
Selling in December or in January
A 10,000 euro gain realised on 30 December 2025 cost 10,000 × 26% = 2,600 euros. The same gain realised on 2 January 2026 costs 10,000 × 33% = 3,300 euros. The law looks at the date the income is realised: a few days' difference is worth 700 euros.
Practical case
Anna's 2026
In 2026 Anna has no losses to carry forward and trades without any Italian intermediary. She sells a first crypto-asset for 12,000 euros, bought for 7,000 euros with receipts kept. She sells a second crypto-asset for 3,000 euros but has no record of the purchase. She receives 500 euros of proceeds for holding. Finally she makes a 200 euro gain on transactions in a euro-denominated e-money token. How much substitute tax does she owe?
Hint: Work out the 33% part and the 26% part separately. Remember how an undocumented cost is treated and that holding proceeds allow no deductions.
Show the solution
First sale: 12,000 − 7,000 = 5,000 euros. Second sale: the cost is undocumented and therefore zero, so the gain is 3,000 euros. Holding proceeds: 500 euros with no deductions. 33% base: 5,000 + 3,000 + 500 = 8,500 euros; tax 8,500 × 33% = 2,805 euros. Euro token: 200 × 26% = 52 euros. Total: 2,805 + 52 = 2,857 euros. No allowance applies, as the income was realised after 2024.
Answer: 2,857 euros of substitute tax
Educational content, current with the sources cited. It does not replace advice tailored to your situation. These courses are neither certifying nor CPF-eligible: they prepare for no certification registered with the French RNCP or specific register.