Average daily balance (giacenza media) necessary for italian taxes


#1

Hi all.
I’m italian, in our country we have something called ISEE, an indicatior of the economy situation which helps government determining how much we should pay for taxes. In order to calculate the ISEE, we need the average daily balance (giacenza media in italian) for every card/account we own. Italian banks offer the option to download it or request it to support. Unfortunately, Revolut doesn’t.
Average daily balance is the average amount that exists in an account over a period of time (in this case, the period is one year). The number is calculated by adding the daily balances over a period of time and dividing by the total number of days in that period. It should be quite easy for Revolut to calculate it since it already provides the account balance for months/year, while it’s a bit painful for us.

I hope you’ll understand my request, in Italy we need this information in order to be regular with taxation, and since Revolut is growing in Italy, you should care about this.
Thank you.


#2

What happens when Italian tax residents bank with other non-Italian banks? Do taxpayers have to calculate the average daily balance themselves?

Do you pay tax as a direct percentage of the average daily balance or is it more complicated than that?


#3

Yes, they have to. Revenue authorities may check some random people and verify they declared the right amount.

Way more complicated.


#4

2018 is over.
Revolut italian users are starting to generate their ISEE’s and need the average daily balance for Revolut. Could Revolut’s staff say something about this? I’d appreciate a lot.


#5

Still waiting for a response from the team :slightly_smiling_face:
Just tell whether you’re interested in giving us this feature or we have to manually calculate the average daily balance.


#6

Looks like one of your competitor (N26) allows users to request this info.
The screenshot is in italian and taken from another public forum.


#7

Hi DeXeD,

I have the same problem as you, in terms of calculating the average daily balance -“Giacenza media” for the ISEE form. Also, every time I present the docs for the ISEE I am asked for the Revolut tax number (Codice fiscale). Which number do you provide?, the company registration number? (which in this case is 08804411)

Many thanks for any advice you may give,
Linda


#8

I’m not sure about what you need. The tax identification number (Codice Fiscale) regards the citizen, not the company. Maybe I misunderstood something, please tell me more in case :slight_smile: