ROME, Oct 23 (Reuters) - 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 ( META ), Google and Amazon ( AMZN ).
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%.
($1 = 0.9279 euros)