Cryptocurrency reporting: what has changed since 2023
Starting in 2023, with the introduction of new tax legislation, specific frameworks for declaring cryptocurrencies in tax returns have been clearly defined.
Prior to this regulatory change, there were no official, detailed guidelines on:
âą where to declare cryptocurrencies
âą how to report any capital gains
âą how to report the tax monitoring of crypto investments
In previous years, this has led to interpretations that were not always consistent and a certain degree of operational uncertainty.
From 2023 onwards, however, the legislator has introduced more precise rules, establishing procedures and sections dedicated to the declaration of crypto-assets.
The software takes this regulatory change into account and applies the correct rules based on the relevant tax year.
Tax years prior to 2023
For tax years prior to 2023, as specific sections dedicated to crypto-assets have not yet been introduced, the software provides proprietary reports designed to support compilation in accordance with the practices applied in those years.
The available reports are:
Stock Report
Equivalent to the W/RW section for tax monitoring.
It reports the values of crypto-assets held and data useful for fulfilling reporting obligations relating to foreign investments.
Capital Gains Report
Equivalent to the T/RT section.
It summarises the capital gains and losses generated by tax-relevant transactions, which are useful for calculating any tax due.
Income Report
Equivalent to the RL section.
Includes any other income deriving from crypto-assets (e.g. certain types of income not classifiable as capital gains).
These reports serve as a support tool and provide a summary consistent with the structure of the reporting forms used prior to the introduction of the specific 2023 legislation.
To find out how to request the reports, click here.