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.