Italy plans to collect around 68 million euros ($73.28 million) from tougher terms for its domestic web tax and higher taxation on cryptocurrency capital gains, Rome’s 2025 budget showed.
In 2019, Italy introduced a 3% levy on revenue from internet transactions for digital companies with sales of at least 750 million euros, at least 5.5 million of which are made in Italy.
But the budget removes these minimum conditions necessary for the tax to be applied, in a move expected to bring in an additional 51.6 million euros on top of the current take-up worth 400 million.
Although the revenue is not significant, the reviewed web tax could trigger retaliation from the United States, Reuters previously reported.
Washington has threatened tariffs over unilateral digital taxes in Europe such as the Italian levy, which applies to Meta Platforms Inc, Google and Amazon.
Italy also aims to collect an additional 16.7 million euros by hiking a tax on capital gains from cryptocurrency such as Bitcoin to 42% from 26%.
