The 2026 Budget Law intervenes on the taxation, for IRES purposes, of capital gains realized on capital goods, outlining a new tax regime for all operations carried out after December 31, 2025.
From 2026, in the case of the sale of individual capital and financial assets, the capital gain will contribute integrally to the training of income in the year of realization. In fact, the right to pay in installments is abolished, a change that affects the determination of taxable income and the immediate liquidity of the company.
In this new scenario, the timing of the sale and the preventive evaluation impacts on the balance sheet become central to corporate governance.
The regime until 2025 and the new rules from 2026
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Until 2025, the taxpayer could opt to divide the capital gain into five annual installments, provided that the asset had been owned for at least three years. This mechanism made it possible to manage financial flows by mitigating the tax burden in the short term.
Starting from 2026, for most goods, the taxation is concentrated entirely in the year of sale. The possibility of paying in installments capital gains in five years remains valid exclusively for:
- sales of companies or business branchesprovided they are held for a period of no less than three years;
- professional sports clubsfor the transfer of athletes’ performance rights (within the limits of the amount corresponding to the monetary compensation), with minimum possession of two years.
The impact on tax advances
An element of particular attention concerns coordination with the advance payment system. The capital gains realized in 2025while benefiting from installment payment purposes, must be considered for their entire amount in calculating the historical tax for advance payments due in 2026.
This mechanism generates a financial advance that requires the programming of cash outflows to avoid any imbalances.
The strategic perspective
In light of the new rules, capital gains management should not be seen as an analysis ex post. Identifying the appropriate time for disposal and coordinating the effects on tax advances are today essential activities for ensure financial stability and operational continuity.
A conscious approach allows you to transform regulatory change into an opportunity for structure more solid decision-making processesprotecting the value and solidity of the company’s assets.
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date: 2026-02-13 08:05:00