Taxes in Europe Database v2
D.lgs. n. 461/1997 - D.L. n. 225 of 2010 converted into Law n. 10/2011 - DL n. 351 of 2001 converted into Law n. 410 of 2001 - DL n. 78 of 2010 converted into Law n. 122 of 2010.
All individual taxpayers and all other kinds of taxpayers which are not classified as companies, which have delegated the management of their capital to accredited third parties can opt to apply this tax on the amount which such capital yielded during the year.
The amount yielded includes interest and dividends accruing on invested capital at the end of the year as well as the surplus value accruing on these securities at that time less losses. For the purposes of accrued output management, interests deriving from Italian and foreign Government bonds are computed on 62.5 percent of the relevant amount.
The surplus value and income accruing from financial investments scheme is based on the amount accrued on a yearly basis (this scheme envisages an anticipated payment and is unlike other tax schemes which envisage that taxation is paid only at the time in which the invested capital is sold).
In case of income deriving from shares held into an Undertaking for Collective Investment in Transferable Securities (UCITS), such income is subject to a withholding tax of 20 percent. In case of real estate investment trusts (REIT), with respect to institutional funds (shared by public bodies, UCI, and other), a withhold of 20 percent applies to income derived from shares. In case of real estate investment trusts (REIT) other than institutional funds instead, income received by investors having a share higher than 5 percent enjoys the tax transparency treatment and it is included in the overall revenue of investors themselves.
The tax rate applied is 26 % and is withheld and paid to the State by the accredited third party.