Forex Trading Tax in Italy 2026 — Complete Guide

Forex Tax Treatment in Italy

Forex trading profits are taxed at a flat rate of 26% (imposta sostitutiva). Losses can be offset against gains within the same tax year and carried forward for 4 years. Traders must declare profits in their annual tax return (Modello Redditi).

Forex and CFD profits are 'redditi diversi di natura finanziaria' and taxed at a flat 26% substitute tax.

Tax Rates Table — Italy EUR

Applicable rates as of April 2026.

What Counts as Taxable?

Most Italy residents need to declare the following types of trading income:

• Realised forex/CFD capital gains. Profits from closing positions during the tax year.
• Dividend-equivalent payments. Cash adjustments paid by your broker on long share-CFD positions when the underlying issues a dividend.
• Carry / swap interest received. Positive overnight financing credited to long carry-trade positions is normally taxable as financial income.
• Cashback, rebates and bonuses. Cash incentives paid by the broker may be reportable as miscellaneous or financial income.
• Crypto CFD profits. Profits from cryptocurrency CFDs are taxed under the same rules as other CFDs (this is different from spot crypto, which usually has its own treatment).
• Foreign exchange differences. Gains or losses from holding foreign-currency balances may need to be reported separately when converted back to your home currency.

Professional vs Retail Trader — Tax Implications

Italy does not have a separate 'professional trader' regime for retail FX. However, if trading is conducted as a business, profits become reddito d'impresa subject to IRPEF and IRAP.

How to Declare Forex Income in Italy

1. 1

   Download your annual statement from each broker (and convert all amounts to EUR using year-end FX rates if your account is in another currency).

2. 2

   Calculate net realised profit or loss for the tax year — buy/sell pairs only (unrealised positions are usually excluded, except for mark-to-market regimes).

3. 3

   Add carry/swap interest, dividend-equivalent payments, and any cashback or rebates.

4. 4

   Open Modello Redditi PF — Quadro RT (capital gains) on the Agenzia delle Entrate portal.

5. 5

   Enter the totals in the capital-gains / investment-income section and indicate the source country of each broker.

6. 6

   Pay any balance owed by the deadline (30 November (online) for Modello Redditi; 30 September if using Modello 730) and keep the receipt and broker statements with your records.

Loss Offset Rules

Record Keeping Requirements

Keep annual broker statements and a Quadro RT-compatible profit/loss summary. Italian residents must also declare foreign accounts on Quadro RW and pay IVAFE wealth tax.

• Annual broker statements (PDF and machine-readable formats)
• Trade-by-trade ledger with timestamps, instrument, and P&L
• Year-end account valuation (mandatory for wealth-tax regimes)
• Proof of any foreign tax already paid, to claim against home liability under double-tax treaties
• FX-conversion rates used to translate amounts into EUR

Tax Reporting Deadlines

Recommended Accountants & Software

Many Italian traders use commercialista software like Profis or work directly with a commercialista who handles Quadro RT and Quadro RW filing.

We do not endorse any single product. For active traders we generally recommend a local advisor who has direct experience with CFD/derivative reporting and any cross-border passporting that applies to your broker.

Frequently Asked Questions

Popular brokers used by Italy traders