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La dolce vita
KEY POINTS
- An annual lump sum flat tax will be available to high net worth individuals and spouses.
- Overseas income can be remitted free of tax to Italy.
- Non-Italian assets will not be subject to inheritance tax or gift tax.
- Non-Italian assets do not have to be disclosed to the Italian tax authorities.
- Italian wealth taxes will not apply to non-Italian assets.
The Italian Income Tax Code this year introduced new favourable tax regimes for two classes of taxpayer: high net worth individuals (HNWIs) and highly skilled workers. It has also brought in simplified immigration procedures. These measures together with existing favourable tax conditions for particular investments make Italy an attractive place for retired HNWIs private investors and highly skilled workers who are seeking to move abroad.
The...
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