How is the Quadro RW calculated in the tax report?

Please note that the following answer only applies to clients of our Italian offering.

The Quadro RW is calculated according to official compilation instructions and cannot be compared with a financial statement or account balance, since it follows a different logic. Specifically, the Valore Finale shows the value of each asset at the end of the tax period or holding period. Tax on foreign financial assets (IVAFE) is calculated proportionately according to the number of shares held and the holding period.

For example, if a client has a portfolio valued at €100 and completes 20 transactions by buying and selling positions with a constant value of €100 each during the year, the Quadro RW will display a Valore Finale of €2,000, even though the portfolio's value never exceeds €100.

A higher Valore Finale does not necessarily imply a higher IVAFE tax, since the latter also takes into account the duration of the holding period.

While we are always willing to provide general clarification, please note that Scalable Capital is not authorised to provide tax advice. We are therefore not authorised to answer individual questions about tax returns. For specific questions, please contact a tax advisor.