In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
My Italian CD interest was taxed at 27%.
In reply to A newbie all over again! by Annec
How long ago was this?
Prodi lowered interest taxes to 20%. Raised it on dividends and capital gains to 20%.
In reply to A newbie all over again! by Annec
Thanks Nick and Norma. I suppose the next step then is to get an English speaking accountant to tell me how I go about declaring to Italy rather than opting for EU.
I've only just signed up to this site, but used it on a number of occasions for research during my move. You're such a helpful bunch of people. It really is difficult knowing what to do in Italy, with the added complication that I'm absolutely useless at my language lessons. Ta.
In reply to A newbie all over again! by Annec
[url=http://www.fiscooggi.it/reader/?MIval=cw_usr_view_articoloIng&articolo=22912&giornale=10379]Notiziario Fiscale dell'Agenzia delle Entrate[/url]
[quote=Noddy;91773]
At the moment I'm under the EU savings directive where 20% is deducted at source. Apparenty this goes up to 35% in a couple of years. This is my only income. I know nothing about the Italian tax system, but rumour has it it's pretty scary. Any experience/advice anyone?
Ta
Noddy[/quote]
Memory tells me there is some info on the EU website for the directive. But isn't the high rate only if you choose not to disclose?
Currently the Italian tax rate on Interest income is 20%. I always forget if that's after deductions. If it is you're paying more at 20% then what your Italian taxes would be.