Crypto Tax Reporting for Italy

Blockpit is a specialized platform designed to simplify cryptocurrency tax reporting. It automatically imports your transactions from exchanges like Bitpanda, classifies them, and calculates capital gains, losses, and income (e.g., staking). It generates downloadable tax reports that comply with Italian tax laws, helping you accurately declare your crypto activity to the Agenzia delle Entrate. While Blockpit reports are structured to comply with Italian tax law, the user remain responsible for verifying accuracy and completeness.

Bitpanda allows you to export your full transaction history in a Blockpit-compatible format. Simply log in to your account, click your profile icon, go to “Transaction History”, and select the “Export” button. Choose “Blockpit Tax Report” and click “Try Blockpit” to get redirected to their platform and start importing data.

​​Note: While Bitpanda allows you to export transactions in CSV format, the CSV is not directly compatible with Blockpit. For full integration and tax automation, use the API connection instead.

Go to Blockpit’s website and sign up using your email address. After registering, check your inbox to confirm your email. When you log in for the first time, you’ll be asked to set your country of tax residence. Select “Italy” to ensure your tax report is structured according to local laws.

In Blockpit, add Bitpanda as an integration. You’ll be prompted to create an API key in your Bitpanda account (under Profile > API Key). Set "Blockpit" as the application name, grant permissions, and confirm via email. Paste the generated key into Blockpit. Your Bitpanda transactions and balances will begin syncing automatically.

Yes. Blockpit updates its platform according to the latest regulatory changes, including Italy’s Legge di Bilancio 2023, and recent guidance from Agenzia delle Entrate (e.g., Circolare 30/E). The platform automatically applies tax rules like FIFO for gains, the 26% tax rate, and categorization under “redditi diversi”.

As of now, crypto capital gains are taxed at a flat 26%. However, starting from January 1, 2026, this rate will increase to 33%, as introduced by the 2025 Budget Law. This applies to profits from selling cryptocurrencies or converting them into fiat or other digital assets.

No. As of January 1, 2025, the tax exemption for capital gains under €2,000 has been eliminated. All crypto gains, regardless of the amount, must be declared and are subject to taxation, unless you opt for the substitute valuation method.

Capital losses (minusvalenze) from crypto can be offset against capital gains (plusvalenze) from the same category within the same tax year. Any excess losses may be carried forward for up to 5 years and used to reduce future gains. Blockpit’s reporting helps you identify and track these offsets accurately.

The tax return deadlines in Italy vary depending on the form used:

• Modello 730 (for employees and pensioners): September 30

Modello Redditi PF (for self-employed or with complex financial activity): October 31 Your crypto tax report from Blockpit can be used with either form, based on your profile.

Yes. Blockpit supports a wide range of DeFi activities, including liquidity provision, staking, lending, and farming, as well as NFT transactions. The platform automatically categorizes and applies tax logic to these activities, offering full visibility and accurate tracking.

Bitpanda simplifies tax reporting by allowing users to export a report-ready file for Blockpit, which removes the need for manual data entry. However, it does not provide tax declarations or act as a substitute tax agent—you remain responsible for submitting your return.

No. Bitpanda does not act as a sostituto d’imposta. It does not calculate, withhold, or remit taxes on your behalf. You are responsible for calculating and declaring your taxes based on your crypto activity.

The cost basis is the original purchase value of your crypto assets, including transaction fees. This is crucial for determining capital gains. Blockpit calculates this automatically using your imported transaction data and applies FIFO (First In, First Out) logic, as required by Italian law.

You should maintain a complete record of all your crypto activity: transaction dates, types, amounts, values at the time of each transaction, counterparties, and platforms used. While Blockpit automates most of this, personal recordkeeping is still strongly recommended in case of audit.

Yes. Crypto assets must be reported in Quadro RW if they are not held with an intermediary qualified as a tax withholding agent (sostituto d’imposta) in Italy. This applies even if the platform is legally based in Italy but does not perform tax withholding duties. Blockpit provides the values needed, but you are responsible for including them in your tax return.

Yes. Blockpit allows users to also track and report investments such as equities, ETFs, and commodities. This is particularly useful for those who want a single, consolidated tax report across asset classes.

Yes. Blockpit supports integration with a wide range of wallets and exchanges. This enables users to sync all of their transactions across platforms into one centralized dashboard. You can find the full list of supported wallets and blockchains at: blockpit.io

Blockpit tracks more than just crypto. The report includes all assets offered by Biptanda:

• Cryptocurrencies

• Fiat currency balances and conversions

• Commodities (e.g., gold traded on Bitpanda)

• Crypto derivatives (e.g., futures or leveraged tokens)

• Tokenized stocks

These assets are included if tracked through connected wallets or directly via your Bitpanda API integration.

IVAFE - Imposta sul Valore delle Attività Finanziarie detenute all’Estero (0.2%) is a wealth tax that applies to crypto assets reported in Quadro RW. It’s based on the end-of-year or maximum annual value of your holdings.

To calculate it:

• Multiply the higher of your crypto portfolio’s year-end or maximum annual value by 0.002.

• Declare it in the RW section of your tax return and pay it with the related F24 form.

Note: Blockpit provides both values in your report but does not calculate the IVAFE amount,  this must be done manually or by your tax advisor.

Bitpanda lets you export your transaction history, which can be useful for tracking your crypto activity. However, these files are not structured as a tax report.

• They do not calculate capital gains or IVAFE

• They do not identify taxable events (e.g., crypto/crypto vs crypto/fiat)

• They cannot be imported into Blockpit directly

You can:

• Share them with your tax advisor

• Use them to support manual reporting

• Or use the API integration with Blockpit to automatically generate a compliant tax report

These exports are useful to share with your tax advisor for manual reconstruction or backup purposes.

FIFO (First-In, First-Out) is the method required by Italian tax law to calculate capital gains. This means the oldest crypto purchased is the first one considered when calculating profits. Blockpit applies FIFO automatically when generating your tax report.

If you didn’t sell, convert, or otherwise dispose of your crypto during the year, you generally don’t owe capital gains tax. However, if your crypto is held on platforms that do not act as tax withholding agents, you still must report them in Quadro RW and may owe IVAFE (0.2%) on their value.