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Circular Letter No. 17/E Clarifies Special Tax Regime for Italian “New Residents”

Volume 4 No 8    /    Read Article

By Andrea Tavecchio and Riccardo Barone (guest authors)

Late last year, the Italian government enacted a new regime designed to entice wealthy individuals into becoming tax residents. In late May, operating rules for the new tax regime were announced. In broad terms, the regime imposes an annual tax charge of €100,000 in lieu of tax imposed at standard rates and an exclusion from inheritance and gift tax on foreign assets. Andrea Tavecchio and Riccardo Barone of Tavecchio Caldara & Associati in Milan, Italy explain the details of the new regime.    See more →