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Italy considers one-time 52% tax cut on private gold holdings
Italy is considering a one-off levy for households to declare gold that is being held off the books – a move that could raise over 2 billion euros, or $2.3 billion, according to an amendment to the 2026 budget seen by Reuters. The proposal would allow individuals to pay a one-time tax of 12.5% to certify the market value of their bullion, gold jewelry, and collectible coins for which purchase records are missing – the same rate levied on government bonds. Under the proposal, the certification must be done by June 2026. Under current rules, the lack of proof of purchase results in a 26% tax on the entire sale ... (full story)
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