Italy Pushes to Introduce Exit Tax on Individuals with €800,000 in Assets, Possibly Including Crypto Asse

Italy's government has included a proposed exit tax in its 2027 budget draft targeting wealthy individuals who relocate their tax residency abroad, with a threshold of at least €800,000 in financial assets and tax residency in Italy for at least six of the past ten tax years. The draft would tax unrealized capital gains—paper profits on assets not yet sold—at the point of moving tax residency offshore, and Italian crypto outlet Criptovaluta.it reported the measure could extend to virtual assets, though inclusion is not yet confirmed. The tax applies to the act of transferring tax residency rather than border crossings, so foreign travel or merely holding crypto would not trigger liability. The move matters because it would extend Italy's reach over high-net-worth crypto holders' unrealized gains, a step beyond conventional realized-gains taxation, and could influence relocation decisions of wealthy Italians amid ongoing debate over the country's crypto tax framework. Watch for whether virtual assets are formally named in the final budget text, the applicable tax rate on unrealized gains, and any exemptions or deferral mechanisms as the 2027 budget moves through parliament.