Savers who bought subordinated bonds from Banca Etruria, Banca Marche, Carife and Carichieti, then seeing the value of their investment reduced to zero with the bailout of the four institutes, will not have to pay taxes on compensation. This was clarified by the Revenue Agency, explaining that "the indemnities that compensate the purchase or subscription value of financial instruments issued by the credit institutions covered by the decree to save banks" at the end of 2015 are not subject to taxation.
In short, "the indemnity paid by the Solidarity Fund set up specifically by the 2016 Stability Law for natural person investors who, having purchased bonds from insolvent banks subject to state intervention, have been compensated with an indemnity paid via lump sum following a specific request, or at the conclusion of an arbitration procedure. From a fiscal point of view, in fact, it is a question of a capital replenishment which consequently has no relevance for tax purposes”, continues the Revenue Agency.
The tax resolution takes into account the answer to a parliamentary question dated 23 June 2016, according to which the reparations have to do with the assets of the investors, not with their income, and therefore cannot be taxed.
