nicktonight

Looks like there is going to be a very big increase in the tax on any property or other assets (bamk accounts etc.) that Italian residents have outside Italy.

philat98

Ivafe from 2% to 4% and Ivie .76 to 1.04%. At least savings accounts are paying some interest now.

daniel_t

A quick question - do we pay a fixed rate for our UK-based bank accounts? It's been 34 euros (stamp duty) for each 'foreign' bank account - payable when the overall balance goes above 5,000 euros.

Looks like the Italians are desperate to avoid getting their national credit rating downgraded to 'junk'.

philat98

I think you are correct about €34 on accounts above €5000.. The tax on accounts above that is 0.2% going to 0.4%.

keithrogers

is this tax on the value of the savings account for example,.4% of the total amount ?
Also,if you draw interest from it,is it also taxed as income ?
Confused to say the least !

philat98

The capital is currently taxed at 0.2% and you pay tax on the interest or dividends.

keithrogers

thank you.
I guess the interest is taxed as per income tax rates and bands ?