Italian flat tax to attract foreign Hight Net Worth Individuals

There’s a new opportunity for Hight Net Worth Individuals tax payers who want to move to Italy. A flat rate fee of € 100,000 for people who currently pay taxes abroad for the last nine years. Tax benefits are extended to all family members (wife, childs), paying additional € 25.000 each. This tax benefits is operative, by art. 24 bis TUIR.
The flat tax wants to put Italy into competition with other countries – from Spain to Portugal to Britain – that in recent years, with favorable tax regulations, have attracted high-income taxpayers and heritage. The standard is designed to come taxpayer-foreigners in Italy we have never been. And maybe they are attracted not only by the tax, but also the climate, the beauty of the area, the culture and the food of the beautiful country.
To join the new tax benefits it’s possible to check a list of questions that will tell if his case may fall and it may be convenient.
The first requirement, of course, is to earn enough to consider saving the payment of € 100,000. In Italy, for example, the affordability threshold would be around EUR 250,000 of income, but the test in this case is done by measuring the taxes paid in other countries.
Join the flat rate will be easy. Simply tick the appropriate box in the tax return. And then the renewal is automatic for 15 years. But for those who want to be certain to meet the criteria may use the checklist of Revenue also to present a specific preventive ruling to Tax Authority. This request must be accompanied by certain information and responses to the checklist.

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