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Taxation of financial incomes
With regard to tax, financial incomes can generate the following types of taxable income:
- capital income
- other income of a financial nature
“Capital income” is interest, profits and income deriving from the use of the capital (such as interest from the bank and shares).
“Other income of a financial nature” is the appreciation deriving from share negotiation deeds (the so called “capital gains”) or reimbursements of these and any profits.
Capital income and capital gains are taxed, with certain exceptions, at the 20 percent rate.
Exceptions are, among others, the income from government securities (issued by the State and government departments, regions, provinces, municipalities etc. ) and postal bonds issued by Cassa Depositi e Presiti, subject to the substitutive tax at 12.5 percent.
