Financial sector | Disapplication of the 10% surcharge on bonuses and stock options
Published on 7th August 2026
New operational rules issued by the Italian Revene Agency
By measure of 30 July 2026 no. 2026/223895, the Italian Revenue Agency has laid down the implementing arrangements for the mechanism introduced by the 2026 Budget Law (article 1, paragraph 137, Law no. 199/2025, which inserted paragraph 2-ter into article 33 of Decree-Law no. 78/2010), which allows for the disapplication of the 10% additional rate on variable remuneration — bonuses and stock options — paid to executives and coordinated and continuous collaborators operating in the financial sector (the “Measure”).
The disapplication is conditional upon the payment, by the entity paying the variable remuneration, of an amount at least equal to twice the aggregate additional levy due for the relevant period, in favour of one or more Third Sector entities pursuant to Legislative Decree no. 117/2017. The beneficiary entities must be independent of the payer: entities which control the payer, are controlled by it or belong to the same group are excluded.
In addition, the payment must relate to the total amount of the additional levy due for the tax period.
From an operational standpoint, payment must be made by bank transfer. However, payments made prior to publication of the Measure by different, traceable means, duly recorded by the beneficiary entity, are also recognised as valid. Where, following the adjustment operations, the payment proves to be insufficient, the payer has 60 days from the deadline for delivery of the Certificazioni Uniche to pay the shortfall without losing the benefit.
The tax reporting obligations of the subjects granting eligible stock options and bonuses include:
- indicating in the Modello Redditi the amount paid and the tax identification numbers of the beneficiary entities, and
- issuing the Certificazione Unica attesting that the additional rate has not been applied.
The provisions apply to variable remuneration paid as from 1 January 2026. However, since the Modello Redditi containing the information required by the Measure will be approved only in 2027, the Measure has introduced a transitional regime for payments made during 2026.
For tailored advice on the applicability of this measure to your specific circumstances, please contact Osborne Clarke’s tax team.
