Italian Officials Prepare Bitcoin Taxation Guidelines
For now, the proposal only seems to focus on companies dealing with Bitcoin and other cryptocurrencies.
The country of Italy is currently dealing with a looming banking crisis. The majority of its loans are not performing and are borderline junk. Despite those concerns, the topic of Bitcoin and regulation has to be touched upon as well. Local taxation official recently drafted a proposal to tax Bitcoin transactions in a corporate environment.
Similarly to most other countries in the world, Italy has no clear legal definition for Bitcoin. It is not an official currency, nor a commodity. However, it has value and anything valuable can be taxed. Up until this point, there was no significant debate on whether or not Bitcoin taxation would go into effect in Italy.
This post was published at NewsBTC