For the Revenue Agency, it will no longer make a difference how the financial proceeds arrive from now on.
With the new tax reform, according to the scheme of ddl delegation, all investment income will be pooled in asingle income category: financial income (interest and dividends) will flow together with other income of a financial nature (capital gain), subject to taxation on the basis of the cash principle.
“We're going to define a single category financial income, taxed in cash and we will allow deduct losses, with the possibility of carrying over until the fourth following year,” said the deputy finance minister Maurice Leo which developed the draft enabling law.
The tax on accrued assets has been abolished in favor of cash taxation
The delegation should be reviewed and approved by the Cabinet of Ministers of Thursday March 16: first the presentation meeting will be held to the social partners and operators for a discussion panel. “I am open to discussion and comments that will come about a very complex structural project” says Leo.
Currently, the Tuir (Consolidated text of income taxes) provides that financial income is divided into two categories: capital income and other income (accrued and realised), both subject to IRPEF with a proportional rate of 26%, as established , most recently, the decree law 66/2014.
La reformInstead, it provides asubstitutive tax on these incomes based on the difference between positive and negative voices, with the possibility of carrying over capital losses in subsequent years and opting for the income tax expressing this choice in the declaration or through financial intermediaries.
It essentially introduces a discount on losses by allowing you to compensate for losses and mutual fund holders are allowed to compensate for positive and negative results.
With the reform of the tax on financial income, in fact, it comes the tax on accrued income has been abolished at the end of the year, regardless of the realization, on which the taxation of the reform was based Visco, in favor of one cash tax which, Leo, more respects the principle of ability to pay.
“The cash taxation of the realized product reflects the principle of ability to pay, as opposed to the amount accrued at the end of the year. The same is true with respect to the possibility of offsetting, explains Leo: "if a stake costs 100, I receive a dividend of 10 and I'm going to sell the share for 90, I'll offset the capital loss". A separate chapter is then dedicated to a substitutive tax rate on the income earned by the pension funds.
