November 11, 2010

Taxation in Italy

The proceeds from trading currency markets, were taxed only if the currencies were kept bought over the 7 working days before selling and if the amount exceeded 51.645,69 Euro (100 millions of Lire) (i-th art.67 D.P.R. 917/86). For this reason, the taxation of such activities in Italy was almost non-existent because they used the same day to close and reopen positions, so as to drop the constraint of 7 days required by law to trigger the taxation.

The circular 102 / E October 2011 Revenue Agency has modified the old standard in force until 2010 (i-th art.67 D.P.R. 917/86), riconducendo i contratti forex tra i rapporti disciplinati dall’articolo 67, comma 1, c-quater of the Income Tax Code. According to this circular incomes, whether you earned by a natural person not subject operator business activities, They are subject to a substitute tax (or a rate of 26% from 1 July 2014, was previously the 20% from 1 January 2013, and even before 12.5%) pursuant to Article 5 Legislative Decree 21 November 1997, n. 461. According to the article 68, comma 8 the Income Tax Code such revenue consist of the result obtained by the sum of the positive or negative differentials and other income or expense, received or incurred, in relation to each of the reports. To the Inland Revenue, Forex profits are then classified as financial gains (in addition to Forex fall into this category all other CFD, i prodotti futures e i forward).

Fonte Wikipedia®

2 thoughts on “Taxation in Italy

  • Hello I ask advice to you !!

    Introduction how to interpret this thing :”

    The proceeds resulting from trading in the currency markets, are taxed only if the currencies bought were held over the 7 working days before selling them, and if they exceed the 51.645,69 euro equivalent ai 100 million old lira (i-th art.67 D.P.R. 917/86).
    For this reason, the taxation of such activities in Italy is almost non-existent as you use the same day to close and reopen the positions, so as to drop the constraint of 7 days required by law to trigger the taxation.

    Where the conditions in the standard, ie the stock is higher than EUR 51.645,69 to at least EUR 7 continuous working days you will have to indicate in the declaration SOLE realized capital gains. "

    I sent email to brokers and they told me arranged with the accountant / we can not recommend because we are not allowed
    Then I talked to the accountant said to me and gives me all income of a resident in Italy must be paid to safety but ............ ask a consultant of your bank

    Then I go to the bank and .............. the consultant tells me we have alternative products etc.
    And I:"But you pay the tax or not"
    Reply:"Do not know"

    Then I ask a different accountant and from what I read says you should pay the ninth!!

    So I ask 1 pious soul of the forum
    If by chance you did gain on forex currencies(and knowing it is very rare) and then I transfer
    In Italy ste cursed taxation are to be paid or not?

    thanks

  • Tasse sul Forex: the situation 2014
    In the 2012 Forex is treated for tax purposes to CFDs, therefore profit from Forex trading you pay the standard rate of Capital Gains and can be scaled losses on positions at a loss to determine the profits from trading at the end of the year.

    In the case of final balance passive losses suffered can be used as a credit or offset future capital gains tax due in the same period for capital gains earned on other investment products.

    For those who operate on the forex broker with foreign tax regime applies declarative: it will be the trader then require documentation from the broker on all transactions and accordingly fill the relevant fields in your tax return, paying taxes when due to its.

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