The January sting will not spare the current accounts of Italians, especially in this period in which, thanks to the fear of the Covid-19 pandemic, taxpayers are oriented to save more by accumulating money on their accounts instead of investing it in other financial products. This practice can have negative consequences, with considerable increases in the tax payable. But what happens when too much money is deposited in checking accounts?
What is the stock limit to save
To avoid paying thestamp duty the threshold remains that of 5 thousand euros, valid for both current accounts and postal books. Once this accumulation figure has been exceeded, a tax of 34.20 euros for individuals and 100 euros for businesses must be paid.
The record of deposits on current accounts in 2021
In the year that is about to end, in Italy very high levels of accumulation of money on current accounts have been reached which have alarmed the banks. With the increase in management costs by credit institutions, which derive little from this type of operation, there is fear of the stagnation effect of money and it is for this reason that banks are trying to push users to invest in other financial products.
The other increases
2022, if Italians continue to focus exclusively on current accounts, could prove even more nefarious. The stamp duty on the deposit account also underwent a significant increase, from 1.5 to 2 per thousand of the invested amount. That is why it becomes necessary to try to diversify investments, so as not to run into the grip of taxation.
When the stamp duty is not paid
In order to be exempt from the payment of stamp duty, however, in addition to not exceeding the maximum deposit threshold on current accounts, there are other conditions to be respected. The tax is not paid either in the case of relationships between managing bodies and trust companies or by non-profit organizations of an associative nature. The calculation of the value of the stock it is obtained by adding the daily balances of the current account and dividing everything by the reporting days.
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