Non-resident individuals can transfer their residence to Italy and pay a fixed “flat tax” (€ 100.000 for each fiscal year) relating to their foreign income and gains.
The new residents regime, aimed to enhance investments and to attract to Italy high-net-worth individuals, provides those non-resident individuals transferring their residence to Italy with a substitute tax to their foreign income and gains.
This favourable tax regime is available for "newly resident" individuals in Italy, who (regardless to their nationality or domicile) have been non-tax resident in Italy for at least 9 years out of the 10 years preceding their transfer to Italy. The incentive regime may also be extended to the family members of those individuals.
High-net-worth individuals transferring their tax residence to Italy are enabled to apply for a substitute tax to their foreign income and gains, amounting to € 100,000 for each fiscal year, in substitution of Italian Income Tax.
The flat tax covers income produced abroad but does not apply to capital gains earned through the sale of financial holdings during the first five fiscal years of applicability of the measure.
Therefore, this taxation represents an alternative to the application of the ordinary taxation and the option is valid for a period of 15 years. The election for the regime may be extended to family members through the payment of a substitute tax relating to their foreign income and gains, amounting to € 25,000 per member.
In order to benefit of such regime, all applicants must submit a preliminary probatory ruling to the Italian Revenue Agency in order to prove the existence of the eligibility requirements. (https://drive.google.com/file/d/0B44GOy-X3YHCSFZfXzRkMW1vNms/view?usp=sharing)
Furthermore, individuals transferring their tax residence to Italy have to pay inheritance and donation tax only for properties and assets existing within the Italian territory.
Our firm is ready to assist his international clients during all the process.
For this please contact flattax@studiovenceslai.it
Commenti
Posta un commento