Art, culture, climate, food, and now also a tax haven.
Everyone who has moved to Italy seems to be extremely happy with their decision. "I bought a dream house in Rome, where I have been living with my family for two years. I spend my holidays in Sardinia and in the Dolomites,” says John, a property developer from NY. “My wife is thrilled, my children attend the best schools. We all appreciate the excellent healthcare facilities."
The basic principle of “worldwide taxation” states that all residents of a given country must pay taxes on all sources of income, both those originating from within home state and those originating from outside that territory.
In this regulatory context of international taxation, Italy introduced a flat tax in 2017 to attract HNWIs (High Net Worth Individuals). To participate, beneficiaries must move their tax residence and have not been residents in Italy for a total of nine tax periods in the previous ten years. This scheme allows new residents to pay an annual lump sum of €100,000 for all income earned inside and outside Italy. This amount is due for each tax period in which the scheme is applied (15 years), regardless of the amount of income earned. This is a significant advantage for HNWIs looking for a favorable tax environment.
The process of relocating can seem complicated, but specialized companies can make it much easier by taking care of all the necessary paperwork. This allows their clients to enjoy the benefits of moving without having to worry about the bureaucratic aspects. There are several companies that take care of all aspects of the move. One of the best with more than 30 years of experience in this field is Leaders.
For more information, visit: https://www.leaders.it/flat-tax-for-hnwi/
