Italian FTT is applied to transactions on Italian equity instruments (491-taxation) and on transactions in derivative instruments (492-taxation).
DEGIRO automatically calculates, withholds, reports, and pays on behalf of clients the Italian FTT due.
491-taxation applies to shares issued by Italian tax resident companies with a market cap of at least €500 million (as of November of the preceding year) and other equity instruments that represent those shares. A list of Italian resident companies currently not in the scope of Italian FTT (as of 2025) can be found here.
492-taxation applies to derivative products which have as their predominant underlying or whose value depends primarily on financial instruments subject to 491-taxation, irrespective of the issuer’s residence.
The taxable event for 491-taxation is the transfer of ownership of equity instruments, resulting from the acquisition of shares or resulting from the exercise or assignment of derivatives positions. Some corporate actions may be exempted from 491-taxation.
The taxable event for 492-taxation is the purchase and the sell transaction of a derivative contract.
The applicable tax rate for a 491-taxation is 0.20% (as of 2026) for transactions dealt on a regulated market or a multilateral trading facility. For trades outside these markets, the applicable rate is 0.40% (as of 2026). This rate is charged on the transaction value, whereby intraday buy and sell trades per financial instrument are netted. At DEGIRO we process the intraday netting at day end. This means that during the day all acquisitions are taxed in full and any potential refund will be credited after market close.
The tax rate for 492-transactions varies and depends on the type of derivative, the total (notional) value of the contract and whether the derivative was traded on a regulated exchange or not.