If you sell the shares of your Invested Money Box, you’ll only pay taxes on this sale if you’ve made a profit, meaning the value of the shares has increased compared to when you invested.
· You invested €100, and the value of your units (i.e., your investment) increased to €110;
· If you sell everything, your gain is €10;
· A tax will be applied to this gain, depending on the type of financial instrument:
◦ 26% for most financial instruments
· The amount you will receive will therefore be net of fees and taxes applied later:
◦ Tax 26% = 10 (gain) * 26% = €2.60 → Order €110 - €2.60 tax = net order total €107.40
If the value of your units has not increased or is lower than the initial amount, you won’t pay any tax.
Since the value of the units (NAV) is updated only once a day, the tax calculation can only be made after the sale, once we receive the official NAV value the next business day. This means we cannot show you the exact amount you will receive at the time of the order.
The above only applies to users with residence in Italy. Returns are subject to taxation, which depends on the applicable legislation and your personal situation and may change in the future.
Do I need to declare my investments in my tax return?
If you are resident in Italy this is not necessary! Satispay also handles your taxes through Caceis Bank S.A., Italy Branch 🚀.
If you are resident in another country, you will have to declare your investments independently in your tax return.
What is the stamp duty on the Invested Money Box and how is it managed?
The stamp duty is a tax required by law that applies to financial products, including the Invested Money Box. It is currently set at 0.20% per year and is calculated based on the value of your investment. The exact amount you will pay depends on how long you keep the investment active during the year, thanks to the proportional (pro-rata) calculation carried out at the end of each calendar year. The good news is you don’t need to worry about any calculations or payments, we handle everything for you!
The amount due is automatically withdrawn from your Satispay Balance once a year, usually by the end of December. Just make sure you have sufficient funds in your Balance at that time.