Average daily balance (giacenza media) necessary for italian taxes

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.

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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?

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

Way more complicated.

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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.

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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.

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

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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

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:

I need it too urgently. Thanks!

up…

I need it before April the 15th.

Thanks.

I suggest you to write to the chat support, maybe linking this discussion. I hope they’ll help you, or at least give an official statement about it.

Please don’t forget to share here the response :slight_smile:

They don’t care about it I asked it many and many times also telling how they should do it but nothing.

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I got this reply :slight_smile:

  • , I have passed your request for future improvement. I cannot guarantee that it will be introduced, but for sure our team will take a look on your query

I don’t think they are going to do anything. Now: what could I do to avoid legal troubles. I need that balance before April the 15.

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You can export the csv from the EUR account section and then use Excel (or similar softwares) in order to adjust and calculate the average daily balance. It’s a bit difficult and frustrating when you use your card for lots of payments :frowning:

I don’t really know the Italian market, so apologies if this won’t help: but isn’t there some sort of Italian banking app similar to Quicken, Mint … available where CSV files can be imported? An app for the Italian market might have this feature integrated.

@AndreasK

I think this is a pressing issue - I’m not italian, but I also had a little “excursion” with swiss IRS about how to proof what’s on my account (fortunatly, our system is less complicated)… They eventually settled the case after physically checking the revolut-app on my cellphone (!) for the movements (local IRS often acts …strange…), but still:

There are tons of different tax-systems in europe (EU + CH), revolut might (should) want to work on implementing the different taxation-forms into the app, so users have an official statement to use…

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Hi DeXeD! I’m italian too. How could you open an italian chat? I don’t find it. Thank you. Andrea

That’s N26 support. I’m not a N26 customer, I don’t how it works. I just took the screenshot from another forum.

They told me this: No, you need to calculate it yourself, we do not need to provide that and we do not provide that. I am sorry, but you will not get anything like that from Revolut.

I don’t know if they understand what I need but I lose every time some hours to tell them what we need, that’s very annoying.

Couldn’t you just point them to this topic? This could help.
I think they don’t understand how much this is important for italian customers. Hey, Italian country manager, if you’re reading, help your team mates understand our problem :slight_smile: