Countdown to the crackdown on financial income taxation. On Tuesday July 20, the rate will be raised from 26% to 66%, established by the Renzi government in Legislative Decree. N.24 of 2014 April 12,5. Which financial instruments are involved? The interests on current accounts, savings deposits but also on shares, bonds, mutual funds, repurchase agreements and some categories of life policies (unit and index linked) are affected. Government bonds and postal savings bonds at a rate of XNUMX% are excluded.
These are Italian and equivalent government bonds) and foreign bonds, provided they are included in the White List. The taxation of pension funds and Pips (Individual Pension Plans) rose slightly, rising to 11,5% from 11%. However, the return already accrued before the change in taxation will be considered. In other words, the portion of interest relating to the first half of 2014 will be taxed at 20% while that of the second half will undergo the new taxation of 26%.
Similar treatment for yields guaranteed by bonds while for dividends the moment in which they are paid will count, again with regard to 2014 (as well as for repayments of mutual fund shares). Since 2015, we have moved entirely to the new taxation. For the capital gain on securities (shares, bonds, derivative products) there is however one more possibility of choice which consists in the release. This is a procedure that allows you to take advantage of the old rate for the payment of tax on capital gains accrued by 30 June.
The procedure must be requested by 30 September 2014 provided that no movements within the dossier are made between 30 June and the date of the request. Another constraint is the fact that the procedure will apply to all the titles in the dossier without the possibility of selection. However, it is an optional procedure that allows you to choose that 20% be immediately withdrawn for the portion of earnings accrued up to 30 June 2014 even if the securities have not yet been sold. When they are subsequently sold, a tax of 26% was paid only on the part accrued after 2014 July XNUMX.
