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Italy: a new regime for foreign incomes

A flat rate tax of €100,000 to attract wealthy non-residents

Italy: a new regime for foreign incomes

Claudia Astarita

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Italy wants to encourage wealthy non-residents to move their fiscal residence to the country. Accordingly, a new law has been approved to establish a flat rate tax of ?100,000 a year that will be applicable to worldwide income of foreigners who will move to Italy their residency for tax purposes.

The new measure, which is very similar to the incentives that other European countries are using to draw foreigners, is expected to attract at least a thousand people.

According to Italian authorities, the flat tax would be renewable every year for a maximum of 15 years, and a person would be considered an Italian resident for tax purposes if he or she can prove to have spent more that 183 days in the country.

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