When changing your residency to retire or live somewhere new, you may be surprised about what you can and cannot do with your money. So what’s there to think about? When you move country there are many, many decisions to make. Whilst your head is filled with new experiences, new sights and new sounds, and […]
Italy has introduced 3 major tax-incentive schemes over the last few years, encouraging new residents to come and stay in the ‘Bel paese’. Income tax cuts or tax incentives can clearly be attractive when you are considering moving to a new country. They can make a big difference to your income and so potentially make […]
Recently I was quoted in the Financial Times about the Italian wealth tax on property, and how this tax is rising for UK property owners living in Italy. For those of you interested, in this article I have the luxury of going into a lot more detail. This tax affects not only British people but all […]
The retired migrant’s tax concession program, Italy Italy has introduced favourable tax policies for those who want to retire in Italy, or move their tax residency to certain parts of Italy (applicable for returning Italians or new residents) The exceptional news about the tax regulation is that it applies to all foreign source income. So […]
You are unlikely to move to Italy purely for tax advantages. It’s more likely you will have thought deeply about your personal and work future plans, and experienced many emotions about the difficult choices facing your life after brexit. These decisions are of course not to be taken lightly, and are likely to have been […]
Taxes on UK property set to rise significantly after Brexit for Italian residents Britain’s exit from the European Union will change how the property tax is calculated for UK property owners, and will likely result in annual property tax increases. The tax, known as the IVIE, is currently applied to all foreign property owned by […]
A new favourable taxation option is now available for new residents to Italy, designed to encourage and increase investment. These rules provide for a new fixed-amount substitute tax which new residents with high foreign incomes have the option to pay annually, and which becomes the maximum and only amount of tax they will pay on their […]
Italy’s tax authorities have just requested information from Switzerland concerning 10,000 bank customers who reside in Italy These clients deposited a total of 6.7 billion euros in Switzerland, according to an article from Reuters newswires. The police said in a statement this action concerns Italian residents holding 9,953 financial positions in Switzerland. The police declined […]
This article could have been called “Tax Disclosure post Voluntary Disclosure..” but maybe that’s just too many disclosures! From time to time I receive enquiries regarding the foreign assets and income of expatriates or new immigrants to Italy. How should these incomes or assets be disclosed to Italian tax authorities? and how will they likely […]
Are you clear about your tax position in Italy? In February I wrote about the Voluntary Disclosure program in Italy and now that program is drawing to a close. I feel however that many people are only just realising the full impact of what’s expected of them by Italian tax authorities. Many enquiries have […]
Recently within our network of advisers we were made aware of this experience retold by a client. Here are the reprinted words of my adviser colleague in Spain: “This is the first time that I have almost first hand knowledge of full exchange of information between two countries’ tax authorities. I was having a review […]
