The recent approval of the delegated law for tax reform represents a first step for the revision of the Italian tax system. Among other things, substantial changes are planned – of interest to investors – of the current methods of taxation of financial income. The main features are the creation of a single category of financial income, their general taxation by cash and the application of a substitute tax on the income received by natural persons who are not entrepreneurs. The delegation also proposes a revision of the system of taxation of returns for supplementary pension schemes, in accordance with the cash principle, instead of the net result accrued in each tax period.
