Short answer: Italy's draft 2027 budget law contains an exit tax on unrealized gains for people who move their tax residence abroad. It would apply to anyone who was an Italian tax resident for at least six of the previous ten years and holds at least €800,000 in covered assets: shares, funds, bonds, derivatives and crypto. Their portfolio would be treated as sold on December 31 of the year before departure. According to crypto law firm Coinlex, crypto gains would be taxed at the 33% rate Italy already applies to crypto, while euro-denominated e-money tokens would fall under 26%. The draft still needs parliamentary approval.
How would the Italian exit tax work?
An exit tax closes a simple loophole: build up large gains while resident, move to a country with low or no capital gains tax, then sell. Under the Italian draft, reported by TokenPost, Chaincatcher and Cryptonews, departure itself becomes the taxable event. The gain is calculated as if every covered asset had been sold at its value on December 31 of the year before the move, and tax is due on the difference from the purchase cost.
The measure is not aimed at crypto specifically. It covers financial assets broadly, which is why mainstream coverage speaks of a 26% exit tax, the standard Italian rate on financial gains. Crypto stands out because Italy raised its crypto capital gains rate from 26% to 33% from 2026, so the same deemed sale costs crypto holders more.
Key facts
| Item | Detail |
|---|---|
| Where | Draft 2027 Italian budget law; not yet approved by parliament |
| Who | Italian tax residents for at least 6 of the last 10 years who move abroad |
| Threshold | At least €800,000 in covered assets |
| Covered assets | Shares, funds, bonds, derivatives, crypto |
| Taxable event | Deemed sale on December 31 of the year before departure |
| Rate | 33% on crypto gains; 26% on euro e-money tokens and general financial assets |
| Payment | Moving within the EU or to a cooperating country: 50% within 180 days with a guarantee, the rest deferred up to 5 years (EU) or 10 years |
| Expected revenue | About €3.37M in 2027, €6.74M a year in 2028-2031 |
Why such a small revenue estimate?
The Treasury expects only a few million euros a year. Commentators read that as a sign the measure is meant as a deterrent rather than a revenue source: the goal is to stop residents with large unrealized gains from leaving just before selling. Italy has recently attracted wealthy newcomers with a flat tax on foreign income, and the exit tax works in the opposite direction, at the moment of departure.
Italy is not unique. Several European countries already apply exit taxes on shareholdings, and tax authorities are getting much better visibility into crypto through DAC8 and CARF reporting, which we explain in CARF and DAC8: what tax authorities now see. An exit tax that includes crypto is the logical next step once the data exists.
What it means for crypto holders in Italy
- Nothing is law yet. The text can change in parliament, including the threshold and the rates.
- Document your cost basis now. A deemed sale is calculated on the difference from purchase cost. Without records of when and at what price you bought, the taxable gain may be assessed as the full value.
- Count swaps as disposals. In most European systems, swapping one coin for another is a taxable event. Keep order IDs and transaction hashes for every swap; our AML address check guide also explains why a clean transaction trail helps.
- Get advice before relocating. Timing of the move, destination country and the deferral rules all change the final bill.
- Use transparent services. When you swap, compare providers in the exchangers list or Changerella App and keep the records they give you.
FAQ
Does Italy have an exit tax on crypto?
It is proposed. Italy's draft 2027 budget includes an exit tax on unrealized gains, including crypto, for residents who move abroad with at least €800,000 in covered assets. It has not been approved by parliament yet.
What rate would apply to crypto under the Italian exit tax?
According to Coinlex, crypto gains would be taxed at Italy's 33% crypto rate, while euro-denominated e-money tokens would be taxed at 26%, the rate for other financial assets.
Who would pay the Italian exit tax?
People who were Italian tax residents for at least six of the previous ten years, hold at least €800,000 in covered assets and move their tax residence abroad.
Can the exit tax be paid in instalments?
Under the draft, people moving to an EU country or a country with a tax cooperation agreement would pay 50% within 180 days with a guarantee and defer the rest for up to five years in the EU or ten years elsewhere.