IVCA (Italy)
IVCA is the standard acronym for Italy's imposta sul valore delle cripto-attività — a statutory annual tax of 0.2% (2‰) levied on the aggregate market value of crypto-assets held by Italian tax residents. It operates as a wealth-style holding tax on digital assets that are held outside the domestic banking and intermediary network, functioning alongside the separate capital gains tax on capital gains (plusvalenze).
Scope and applicability
The IVCA applies to individuals, non-commercial entities, and simple partnerships residing in Italy who hold crypto-assets in the following custody structures:
- Foreign exchanges and platforms: Digital assets deposited on centralized exchanges (CEX) or service providers not established as tax-resident intermediaries in Italy.
- Non-custodial and self-hosted wallets: Assets secured on hardware wallets, software wallets, or smart-contract protocols where the taxpayer retains private keys.
When digital assets are deposited with an Italian resident intermediary that acts as a withholding agent, standard domestic stamp duty (imposta di bollo) applies instead. IVCA and domestic stamp duty are mutually exclusive on the same asset position.
Comparison of Italian crypto taxes
| Tax category | Assessment basis | Reporting schedule |
|---|---|---|
| IVCA (Imposta sul Valore) | 0.2% per annum on the fair market value of foreign or self-custodied holdings | Quadro RW / Modello F24 (tax code 1727) |
| Imposta di Bollo | 0.2% per annum collected directly by resident Italian intermediaries | Withheld at source by intermediary |
| Capital Gains Tax | Substitute tax (26% / 33%) on net realized gains upon disposal | Quadro RT (or Quadro T in Modello 730) |
Because IVCA is a holding tax on asset value, liability arises regardless of whether the taxpayer realized any capital gains or executed trades during the fiscal year.
Integration with Quadro RW monitoring
Taxpayers subject to IVCA must report their digital asset holdings in Quadro RW (the foreign asset monitoring section of the Italian tax return).
- Holding value computation: Valuation at year-end (or the date of disposal) is determined using documented fair market value converted into euro.
- Holding period pro-rating: If an asset was acquired or disposed of during the year, IVCA is calculated in proportion to the number of days the asset was held.
- No statutory threshold: Unlike historical capital gains exemptions, IVCA has no de minimis threshold; all foreign and self-custodied holdings must be reported.
Practical compliance checklist
- Identify all platforms and self-custody wallets holding assets during the calendar year.
- Separate holdings subject to domestic stamp duty from foreign/self-custodied holdings subject to IVCA.
- Calculate aggregate fair market value at December 31 using official central-bank reference rates.
- Report values in Quadro RW and remit the resulting liability using Modello F24 under tax code 1727.
The information in this article is for general literacy only. It is not tax, legal, financial, or accounting advice and does not replace Agenzia delle Entrate instructions or advice from a qualified professional for your circumstances. It must not be used to evade tax obligations. We make no warranty as to accuracy, completeness, or currency; rules and practice can change. Do not file returns or make decisions based solely on this text. RIXTO is not liable for loss arising from use of, or reliance on, this information.