Capital Gains Tax

07/23/2010 - 11:01

We are thinking of selling some shares in Britain and our understanding is that, as residents in Italy, we don't pay UK CGT but the Italian equivalent for which there is no tax free limit other than the normal personal allowance and which is charged at 12.5%. Does that sound right? Thanks

Topic

Tax and Finance

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Sorry to disappoint you but it's 20% . Went up a while ago.

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You are permittted to detract commission costs on share purchases/sales when calculating the plusvalenza payable. This is a link to the Agenzia page about plusvalenza - I hope it is entirely up to date! http://www.agenziaentrate.gov.it/wps/wcm/connect/Nsilib/Nsi/ModulisticaAP/Modelli+di+dichiarazione/2007/Unico+PF+2007/Fascicolo_2/1_Istruzioni_per_la_compilazione_dei_quadri_aggiuntivi_al_modello_baseXX/4_Quadro_RT_Plusvalenze_di_natura_finanziaria.html

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Many thanks for your replies - very helpful.

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