Tax on Italian government bond interest — work out the 12.5 % tax and your net income
Interest on Italian government bonds and equivalent securities, received by an individual resident in Italy, bears a 12.5 % substitute tax: out of 1,000 euros of gross coupons you keep 875. Other bonds and deposit accounts are taxed at 26 %: on the same 1,000 euros you keep 740.
2026 rules — verified on September 25, 2026Free, no account
This content is part of the path: Investing and declaring financial income· Step 3 of 10· Next step: Italian dividend withholding tax — work out the tax and what you receive
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Sources and assumptions
- Gazzetta Ufficiale — D.Lgs. 1° aprile 1996 — tax year 2026, verified on September 25, 2026
Excerpt from the source : « Sono soggetti ad imposta sostitutiva delle imposte sui redditi nella misura del 12,50 per cento, gli interessi ed altri proventi delle obbligazioni e titoli similari di cui all'articolo 1, nonche' gli interessi ed altri proventi delle obbligazioni e degli altri titoli di cui all'articolo 31 del decreto del Presidente della Repubblica 29 settembre 1973, n. 601, ed equiparati »
- Gazzetta Ufficiale — D.L. 24 aprile 2014 — tax year 2026, verified on September 25, 2026
Excerpt from the source : « Le ritenute e le imposte sostitutive sugli interessi, premi e ogni altro provento di cui all'articolo 44 del testo unico delle imposte sui redditi [...] ovunque ricorrano, sono stabilite nella misura del 26 per cento. »
Calculation assumptions
- The recipient is an individual resident in Italy who does not hold the securities as part of a business.
- The 12.5 % rate covers Italian public securities and their equivalents; bonds of foreign white-list states are not covered here. Gains on selling the securities follow a different rule (see the financial capital gains calculator).
- The rules applied are those in force for the 2026 tax year: from 1 January 2027 they move into the consolidated act on tax payments and collection (Legislative Decree 33/2025).
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This result is provided for information purposes only and does not constitute personalised tax advice. Check your situation with the tax authorities or a professional.