Revolut integrates the calculation of the Average Annual Stock

The financial app Revolut announces the integration of the calculation of Average Annual Stockwhich will help i 650 thousand Italian customers to fill out the tax return. Here’s how to do it in a few simple steps.

Revolut integrates the calculation of the Average Annual Stock

Con 18 million customers around the world, Revolut is changing the way many people manage their finances in a smart way. But Italian users can now take advantage of a new and interesting possibility, that of calculate the Average Annual Stock directly within the app. This function helps users in various operations, simplifying the relationship with the taxman.

The Average Annual Stock for the Revenue Agency is “the average amount of the credit of the customer in a given period compared to one year”. A measure required for several activities, such as the ISEE declaration (Indicator of the Equivalent Economic Situation). Which allows you to take advantage of important tax reliefs. Everything from the first home bonus, the rent bonus, the reduction of university fees. It is also used to apply for a mortgage or loan.

It is also important to calculate the annual tax return, that the September 30, 2022. In fact if you have an average annual balance of over 5,000 euros, or even a single day with an amount exceeding 15,000 euros, the bill Revolut it must be inserted in the framework RW of the Income Model. Which determines the monitoring of investments and financial assets abroad. (Although always remember to consult a tax advisor for these transactions).

How to calculate it in the app

Seeing the Average Annual Inventory is simple, it is a document to download from your multi-currency account with a unique Revolut IBAN. To do this you must:

• Log in to your in-app personal profile
• Touch “documents“
• Touch “Average Annual Stock”
• Select the year
• Touch “Genera“
• A pdf document is generated, ready to be shared or imported

For more information, see the official Revolut page. And remember to ask a professional for advice.