Derivatives based on Italian shares and Indexes are subject to the Italian Financial Transaction Tax (IFTT).
The IFTT was introduced by Article 1(491-499) of Law no. 228/2012 (the “Budget Law 2013”). On 21 February 2013, the Ministry of Economy and Finance issued the Ministerial Decree setting out the IFTT implementing rules, which were slightly amended by a further Ministerial Decree issued on 16 September 2013.
The IFTT will be applied regardless of your tax residence or place where the corresponding transaction has been done.
For the compliance with Italian legislation, we will apply the IFTT to all CFD trades based on Italian indices or shares.
The IFTT will be calculated on a trade basis. Any tax due will be charged to your account after the execution of your trade.
Please find the table below with information how much you will be charged trading CFDs.
CFDs on Italian shares with a market capitalization higher than EUR 500 mln, as set out by the Ministry of Finance in December 2012, as underlying asset are currently subject to the IFTT. This is subject to change by the Italian government. The IFTT charge will be based on the notional value of the trade.
| Notional Value of the trade, EUR | Tax |
|---|---|
| 0 - 2500 | €0.25 |
| 2500 - 5000 | €0.50 |
| 5000 - 10,000 | €1 |
| 10,000 - 50,000 | €5 |
| 50,000 - 100,000 | €10 |
| 100,000 - 500,000 | €50 |
| 500,000 - 1,000,000 | €100 |
| >1,000,000 | €200 |