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Italian Budget Amendment Proposes 12.5% Levy to Revalue Undocumented Investment Gold

Backers frame the one-time revaluation as a way to bring physical holdings into the open to raise billions for the 2026 budget.

Overview

  • An amendment by Giulio Centemero of Lega and Maurizio Casasco of Forza Italia would let holders revalue investment gold at a 12.5% substitute tax, instead of the current 26% treatment.
  • The draft targets bars, plates and coins held without purchase documentation as of January 1, 2026, with the revaluation window running until June 30, 2026.
  • The procedure would be carried out through intermediaries and professional gold operators registered with the Organismo Agenti e Mediatori.
  • The sponsors cite potential revenue of €1.67–€2.08 billion under a 10% uptake, referencing estimates of sizable private gold stocks in Italy.
  • Opposition parties M5S and Avs condemn the plan as a condono, while reports on the draft note payment by September 30, 2026 with optional installments up to three years and the measure now awaiting parliamentary decisions.