Tax applicable to Italian derivative products

Since the 1st of September 2013, all positions taken on Italian derivative products are subject to a tax on financial transactions. The tax follows the tax introduced on all Italian shares on the 1st of March. In order to comply with Italian law, this tax is applied as of September the 1st on all Italian stock and index CFD transactions.

 

What are the consequences on your transactions?

Listed below is a breakdown of taxes applied to CFDs, rounded to the nearest euro cent.These will be debited from your account at the opening and closing of your transaction.

Please note that these figures are indicative and may be subject to changes. To obtain the latest information about these taxes, please contact our Customer Service.

 

Indices

A tax will be applied to any transaction on a CFD on Italy 40. Furthermore, due to increased cost related to the Italy 40 CFD transactions, we are expanding our spreads as listed below:

 

If the contract Italy 40 is below 20 000 points

Standard Contract

  Tax per standard contract Spread
Italy 40 cash 10€ 10
Italy 40 (contract term) 0,75€ 8

 

Contrats min

  Tax per standard contract Spread
Italy 40 cash 5€ 15
Italy40 (contract term) 0,38€ 10

 

If the contract Italy 40 is above 20 000 points

Standard Contract

  Tax per standard contract Spread
Italy 40 cash 50€ 10
Italy 40 (contract term) 3,75€ 8

 

Contract min

  Tax per standard contract Spread
Italy 40 cash 5€ 15
Italy 40 (contract term) 0,38€ 10

 

Shares

For the moment, only CFDs on Italian shares that have a market capitalization over 500 M€ are subject to the tax, as defined by the Ministry of Finance in December 2012.  This will soon be amended by the Italian government and the tax will be based on the nominal value of the transaction.

Nominal Value (€) Applied Tax
0 - 2 500 0.25€
2 500 - 5 000 0.50€
5 000 - 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€

 

Options

For put, call, and digital 100s on Italy 40, the applicable tax will be calculated based on the amount of the option premium.

 All digital 100s options with a premium of less than 500 € will be taxed by the amount of € 0.02 per contract. If the premium is more than 500 €, the tax imposed could be higher. Please contact our Customer Service for more information.

 

From when my positions will be affected?

This new tax will be applied to all transactions starting September the 1st (inclusive).

As of this date, if you close a position on one of the above-mentioned products, you will be charged the applicable tax as described above. We recommend you to make sure you have sufficient funds in your account to cover this additional tax.

 

Contact us

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