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30.082010

Stock option: 10% surtax on bonuses to executives

An additional 10% tax is applied to bonuses and stock options assigned to workers who play executive roles in the financial sector and individuals under continuous and coordinated work agreements in the same sector that are “in excess of triple the fixed portion of compensation”.

An additional 10% tax is applied to bonuses and stock options assigned to workers who play executive roles in the financial sector and individuals under continuous and coordinated work agreements in the same sector that are “in excess of triple the fixed portion of compensation". This new tax takes effect on 31 May 2010, in accordance with article 33 of Decree Law 78/2010, converted by Law no. 122/2010. The surtax must be withheld by the withholding agent at the time the bonus or stock option is paid. Procedures regarding eventual audits, enforcement, fines and disputes follow the ordinary regulations in regard to income tax.

 

(Il Sole 24 Ore)