Any business current account opened at an Italian bank is subject to a stamp tax of 100€ annually.
By virtue of its status as a French payment institution (authorized and supervised by ACPR, an organ of the Bank of France), Qonto accounts are not subject to any stamp duty.
It is important to note that, depending on the legal form of your business and the average balance in your Qonto account in the relevant tax year, your accountant may need to enter some information on your tax return.
Partnerships and corporations
Corporations are not obliged to include the Qonto account holding information in their tax returns.
This is true by virtue of the fact that corporations are required to reconcile invoices and all incoming and outgoing payments, which are tracked accordingly.
Professionals
For professionals, however, we must distinguish two cases:
Average annual stock of less than €5,000: in this case you will not need to enter any information in your tax return.
Average annual stock of more than €5,000: in this case the accountant will be required to fill in the RW panel in the tax return and you will be required to pay IVAFE (tax on the value of assets abroad) in the amount of 34.20€.
More information on IVAFE can be found in this section of the Agenzia delle Entrate website.
Note 1: We always encourage you to verify the above information in relation to your specific business with your accountant or tax advisor in order to avoid incurring penalties.