Potential refunds for thousands of taxpayers who paid 26% in 2023 and 2024.
A legal analysis by the Italian firm Coinlex, founded by Stefano Capaccioli, an expert accountant and scholar of digital assets, has uncovered a major “flaw” in Italy‘s taxation of cryptocurrency capital gains.
According to the study, the effective tax rate for substitute taxes on crypto gains should be 12.5% rather than the 26% that has been applied until now. This revelation could pave the way for potential refunds to thousands of investors who overpaid taxes between 2023 and 2024.
The basis for this finding lies in a close reading of layered regulations, particularly Article 5, Section 2 of Legislative Decree 66/2014. This provision appears to exclude crypto-assets under letter c-sexies from the 26% rate, instead assigning them a 12.5% rate.
The software and instructions provided by the Italian Revenue Agency have so far effectively required all taxpayers to pay taxes at a 26% rate, creating potential disputes that could lead to substantial refunds.
Capaccioli advises crypto investors to request a refund for the 13.5% of tax overpaid, using the Word form available on the Coinlex website.
