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Archive » July / August 2021 » The definition of regulated markets and its effects on financial assets’ taxation

The definition of regulated markets and its effects on financial assets’ taxation

Enzo Mignarri
July / August 2021 - n. 7-8
Keywords: Mercato regolamentato, tassazione, Mtf
Jel codes: D53, K34

In 2020, the Italian Revenue Agency updated the notion of a regulated market, superseded by the evolution of markets and financial instruments. The Agency also clarified a further issue, namely the framework of multilateral trading facilities (Mtfs). The new definition of regulated market, which includes foreign markets that are regularly functioning, recognized and open to the public, including those of non-Oecd countries, and Mtfs, has significant repercussions on the taxation of financial returns of resident and non-resident investors in Italy.

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