IT 
ES Investment gold / Taxation
Taxation
The purchase and sale of investment gold can result in capital gains of a financial nature, which are subject to taxation under Italian law. This taxation is executed through the application of a substitute tax.
The Budget Law of 2024 has significantly altered the previous regulations (as per art. 68 of the Italian Income Tax Code). Now, if purchase invoices are available, a substitute tax at a rate of 26% is applicable on any capital gain realized, similar to that on financial transactions. This tax is settled in the tax return for the year in which the payment is received. In the absence of a sale deed, a 26% tax will be imposed on the entire sale amount. Therefore, it is always advisable to retain the documents related to the purchase of the metal.
General Criteria for the Existence of Documentation
- Documented acquisition cost€ 35.000
- Sale proceeds€ 50.000
- Taxable capital gain = B - A
Tax due 26% of C€ 15.000
€ 3.900
Criteria for the Absence of Documentation on Acquisition Costs
- Documented acquisition costn.a.
- Sale proceeds€ 50.000
- Tax due 26% of B€ 13.000