IT 
ES Investment gold / Taxation
Taxation
The purchase and sale of investment gold can generate financial nature capital gains, which Italian law subjects to taxation with the application of a substitute tax.
The taxable base subject to taxation is determined by the difference between the consideration received and its purchase value (art. 68 of the tuir). It is very important to keep the metal’s deed of purchase, since in the absence of such documentation, the capital gains are determined equal to 25 percent of the consideration for sale and based on this, 26 per cent is paid. This is not a power, but an obligation.
General criteria in the presence of documentation
- Documented purchase cost€ 35.000
- Transfer fee€ 50.000
- Taxable capital gain = B - A
Tax due 26% of C€ 15.000
€ 3.900
Criterion in the absence of purchase cost documentation
- Documented purchase costn.d.
- Transfer fee€ 50.000
- Taxable capital gain = B - A
Tax due 26% of C€ 12.500
€ 3.250