![]() ![]() Wealth tax on foreign real estate and financial activities.The lump sum payment covers any foreign income subject to the flat tax includes:īy opting for the new tax regime, taxpayers are exempt from:ĭonations and Inheritance taxes relating to assets and real estate owned abroad ![]() The regime can also be extended to any family member, who will be subject to € 25,000 annual tax instead of € 100,000. New residents opting for this flat-tax regime will pay, instead of ordinary tax rates, a flat-rate tax of € 100,000 per year on all their non-Italian sourced income this option lasts up to 15 years. Citizens of countries with which Italy does not have any tax treaty in effect can also apply. There are no citizenship limitations Italian citizens and non-Italian citizens can apply indiscriminately. Individuals who were registered as resident of Italy in the past year can still qualify as long as the tie breaker rules included in the Double Tax Treaty protects them. New residents, who were not tax resident of Italy in the past 9 out of 10 years, can opt for the flat tax regime. For more information about this read also our article about the flat tax in details. The Italian government has tackled this problem in 2017, introducing a new tax regime tailored to new residents of Italy: flat tax. However, many people decide not to make the move for a simple reason: Italian taxes! Italian income tax rates rank high in among OECD countries, and High Net Worth Individuals (HNWI) are normally discouraged to move their tax residency to Italy because of adverse consequences to their personal wealth. Italy is one of the world top destination for living, due to its history, culture, landscape, food and wine. Wishing to live the "Dolce Vita" but scared of the Italian tax system?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |