Italy plans to impose a 33% exit tax on crypto asset holders relocating abroad, with unrealized gains also subj

Italy is considering a 33% exit tax on unrealized capital gains from crypto assets held by individuals relocating abroad, according to a draft provision in next year's budget bill reported by local outlet Criptovaluta.it on November 1. The tax would apply even if assets such as bitcoin have not been sold, with taxable gains calculated as the positive difference between the asset's market value at the end of the tax year preceding the termination of Italian tax residency and the original purchase cost. The measure targets individuals who were Italian tax residents for at least six of the past ten tax years and whose relevant assets total at least €800,000. The exit tax is not crypto-specific and would cover other asset classes, though government bonds would reportedly receive preferential treatment. The provision remains at the draft discussion stage and has not been formally approved. Investors and tax advisers are watching whether the clause survives into the final budget law and how it could prompt crypto holders to relocate or restructure holdings before residency changes.