The bank or postal current account requires taxes to be paid regardless of the type. In fact, looking at what could soon happen, it is imperative to remember that a nasty surprise will come to the current account at the end of the month for savers and beyond. Savers will find themselves an automatic charge of around 34.20 as stamp duty. This is one of the most hated taxes by Italians, immediately after the car tax.
A nasty surprise for savers will arrive on the current account at the end of the month
In a previous article we specified the right amount to keep in the bank or postal current account to avoid paying the stamp duty.
Let’s try to understand how the stamp duty is configured and how it is charged to the current account. In effect, it is a kind of state-imposed property tax. The amount is automatically debited from each current account or savings account held.
The amount can be debited every quarter and reaches an annual value of 34.20 if a natural person. On the other hand, for legal persons the charge is 100 euros per year. This is a fixed tax, in fact it is a real forced withdrawal, regardless of the type of account.
The withdrawal is automatic and at 30 June 2021 a charge of 8.55 euros will arrive on the current accounts of savers. So, those who have little money in their checking account should be careful.
We remind you that there are exemptions. Those who have an average stock below 5,000 euros do not pay the stamp duty. Furthermore, there is an exemption for savers who have a low income with an ISEE of less than 7,500 euros. There are many people who are unaware of this exemption and regularly pay the stamp duty charged automatically by the bank.
What is stamp duty?
The stamp duty has now been in force with Presidential Decree 642/1972 for about 50 years. This tax is applied to postal and bank savings books and current accounts. There are two ways in which the tax can be charged: in a single withdrawal or divided into 4 installments.
In a single withdrawal, the automatic charge is € 34.20, while divided into four installments, the charge is € 8.55 per quarter.