Italy is weighing a one-off tax incentive that would allow households to formally declare undeclared gold—ranging from jewellery to bullion and collectible coins—according to an amendment to the 2026 budget law. The proposal offers individuals the option to certify the market value of such gold by June 2026 by paying a 12.5% levy, matching the tax rate applied to government bonds.

Currently, individuals lacking purchase records face a 26% tax on the entire sale value, rather than just capital gains, prompting many to avoid official channels and resort to informal markets. Lawmakers from the League and Forza Italia say the new measure could help reverse this trend, potentially unlocking over €2 billion in revenue if even 10% of privately held gold is disclosed.

Italy’s private gold holdings are estimated at 4,500–5,000 tonnes, valued at nearly €500 billion. Activity at “Compro Oro” shops has surged, with used-gold sales up 25% in 2025 and more than 1.2 million transactions a month, driven by rising prices and household liquidations.

Under the proposal, individuals who opt in would declare their gold at market value, pay the tax in one or three instalments, and receive a stepped-up fiscal basis for future sales. The process would be overseen by authorised intermediaries with strict anti–money-laundering safeguards. Supporters say the measure could boost transparency and liquidity in a sector long dominated by undocumented family inheritances. The amendment now awaits government review and parliamentary approval.