Italienische Besteuerung

When you invest, gross return is not enough: what remains after taxes is the number that matters.

That is why broker and tax regime should be chosen together, not separately.

In the administered regime, an Italian broker handles much of the tax calculation and payment process.

In the declarative regime you have more autonomy, but also more responsibility for reporting and documentation.

If you use foreign intermediaries or foreign financial assets, you must check the specific reporting obligations.

IVAFE is something to understand before investing, not something to chase at year end.