K
K - ATECO Codes Financial and Insurance Activities
Section K covers financial and insurance activities: banks and monetary intermediation (division 64), insurance, reinsurance and pension funds (division 65), and auxiliary activities such as agents, brokers, credit intermediaries and financial advisers (division 66). The genuinely regulated activities — banks and insurance companies — require authorisations and corporate structures. For those registering a VAT number, the flat-rate regime almost always involves division 66 codes, with a profitability coefficient of 78%, and the INPS scheme varies depending on the role.
- ATECO 2025 codes
- 30
- Flat-rate eligible
- 30 of 30
- Profitability coefficient
- 78%
- Prevalent INPS scheme
- Gestione Separata
64.11.00ATECO Code Central Banking64.19.10ATECO Code Other Monetary Intermediation Provided by Monetary Institutions Other Than the Central Bank64.19.20ATECO Code Other Monetary Intermediation Provided by Electronic Money Institutions64.19.30ATECO Code Other Monetary Intermediation Provided by Cassa Depositi e Prestiti (CDP)64.21.00ATECO Code Activities of Holding Companies64.22.00ATECO Code Activities of Financing Conduits64.31.00ATECO Code Activities of Money Market and Non-Money Market Investment Funds64.32.00ATECO Code Trusts, Estates and Agency Accounts64.91.00ATECO Code Financial Leasing64.92.10ATECO Code Factoring Activities64.92.91ATECO Code Other Credit Granting Activities Provided by Collective Credit Guarantee Consortia64.92.99ATECO Code Other Miscellaneous Credit Granting Activities N.e.c.64.99.00ATECO Code Other Financial Service Activities, Except Insurance and Pension Funding N.e.c.66.11.00ATECO Code Administration of Financial Markets66.12.00ATECO Code Security and Commodity Contracts Dealing Activities66.19.10ATECO Code Processing and Settlement of Credit Card Financial Transactions66.19.21ATECO Code Financial Advisory Activities Provided by Advisors Authorised for Off-Premises Offering66.19.22ATECO Code Other Financial Advisory Activities66.19.90ATECO Code Other Activities Auxiliary to Financial Services N.e.c., Excluding Insurance and Pension Funds66.21.00ATECO Code Risk and Damage Assessment66.22.00ATECO Code Activities of Insurance Agents and Brokers66.29.01ATECO Code Supervisory Activities for Insurance and Pension Funds66.29.09ATECO Code Other Activities Auxiliary to Insurance and Pension Funding N.e.c.66.30.01ATECO Code Fund Management: Collective Investment Schemes, Pension Funds and Portfolios66.30.02ATECO Code Trust Management Services66.30.03ATECO Code Fiduciary and Custody ServicesFrequently asked questions
Can an insurance agent or financial consultant register a VAT number under the flat-rate regime?
Yes, provided you meet the general flat-rate requirements, the most important being the €85,000 annual compensation ceiling. For division 66 codes (agents, sub-agents, consultants) the profitability coefficient is 78%, so taxes are calculated on 78% of receipts net of contributions. On €30,000 of commissions the starting taxable base is €23,400, on which the flat tax of 15% applies (or 5% for the first five years if you meet the new-business requirements). You can estimate your tax burden with the tax calculator.
What is the profitability coefficient for section K activities in the flat-rate regime?
For financial and insurance intermediation activities in division 66 the coefficient is 78%, the same rate applied to service activities in this group. This means 22% of receipts is recognised as a flat-rate expense allowance without needing to document actual costs. On this taxable base, after deducting social security contributions paid, the substitute tax is calculated.
Which INPS scheme does someone working as an insurance agent or financial adviser enrol in?
Insurance agents and sub-agents, as well as financial consultants tied to an agency or network, typically enrol in the INPS commerciants' scheme, with fixed contributions of around €4,500 per year plus a percentage on income above the minimum threshold, and mandatory Chamber of Commerce registration. Those in the flat-rate regime can apply for a 35% contribution reduction. A direct producer operating without a business structure, either as a self-employed person or under a coordinated collaboration arrangement, may instead fall under the separate management (gestione separata).