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Italy wants to attract wealthy people with a low tax rate

09-03-2017 - Bridge Consulting

The Italian tax authorities are starting a procedure to attract very wealthy people from abroad. Anyone who places their tax residence in Italy will be given the opportunity to finish with a flat tax amount of 100,000 on his worldwide income.

With this measure, Italy wants to compete with countries such as the United Kingdom and Spain. There are also favor regimes set up to attract footballers, singers and other rich people.

Who is eligible?
However, the scheme can not be used by everyone. Only people who have lived abroad for at least nine of the past ten years are eligible. In addition, you must of course also belong to the select club of wealthy that considers a tax bill of 100,000 euros per year as an excellent deal.

As soon as you fall under the new tax regime, you will have to spend enough time in Italy. This will be necessary in order to justify the choice of Italy as a tax residence with the tax authorities in their own country. According to the Italian press, a thousand people might be interested in the tax measure. In this way, about 100 million euros can end up in the treasury.