Circulars n.10 / 2011 - Mid-August maneuver 2 - The new taxation of financial annuities

Mid-August maneuver 2 - The new taxation of financial annuities

Legislative Decree 13 August 2011, n.138 (the "Ferragosto Maneuver"), converted with amendments by Law n.148 of 14 September 2011, introduced an important revision of the tax system of financial income, with the aim of to merge, with effect from 1 January 2012, the current rates of 12,50% and 27%, applied to certain financial, "capital" and "other" income, at an intermediate level set at 20%.

Topics index

1. Scope of
2. Effective date
3. Dividends
4. “Capital Gains”: Transitional Regime
5. Losses realized within the 2011 tax period
6. Relations with the "Onerous Revaluation" provided for by the "Development Decree"

Read more