Taxation on current accounts and investments changes in accordance with D.L 138/2011 converted into law 148/2011 where the amount of tax on returns will be 20%

As from 1 January 2012 the rate relative to taxation on income from interest, dividends and capital gains will be merged into a standard 20% rate of tax.

The effect of the reform translates into a rate reduction on current and deposit accounts and an increase for stocks, life policies, deriviatives and other tradeable assets and financial instruments.

State bonds are excluded where the rate shall remain at 12.5%

The increase will take effect from 1 January 2012.

you hope. Current developments may change all that. Wait for a patrimoniale on your property, re-introduction of ICI on 'prima casa', an 'una tantum' on savings and current accounts - e 'chi piu' ne ha piu' ci metta'.
glass still half full, but going down rapidly.

ciao for now,
'o nonno

Ononno, I'm disapointed.
My father used to say a propos taxes, "If you find anything, leave me half." I'm happy with clogs to clogs in two generations, in Italy that is.

Kipling, as quoted in today's Organ of Truth online :
This is the midnight - let no star
Delude us - dawn is very far.
This is the Tempest long foretold
Slow to make head, but sure to hold.

Meditate gente, meditate!

'o nonnno