Italy: Flat TAX for HIGH Income Earners 🇮🇹

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Italy is now offering flat tax for high net worth individuals of 100 000 EUR per year, no matter how much they earn! We already talked about Greece offering flat tax, but now there is the same option in Italy.

Italy is considered a spectacular country by many. Many love to visit again and again (including myself), and many would happily move there if it wasn't for high taxes.

If you earn a large amount of money from abroad, this can be a great opportunity if you want to move to Italy. This program applies to people who have not been Italian tax residents for the past 9 years. It can apply to both Italian citizens and non-Italian citizens.

The regime lasts for 15 years, meaning that from the time you go you can maintain your tax favorable status for 15 years. However, it doesn't have to be for all that time, if you all of the sudden stop making lots of income you can always switch to normal taxation (which is not good at all).

So, if you make income from abroad you will pay a flat tax of 100 000 EUR.
There are some other benefits on top of this:

- You're exempt from gifts and inheritance tax
-You're exempt from wealth taxes
-You're exempt from foreign financial reporting

You're also able to benefit from tax treaties.

The exemption from the flat tax is what they call qualified shareholdings for the first 5 years. If you own a certain percentage of a company, the sale of those shares are not necessarily covered. However, there are ways to work around this.

Besides this program, there is another one in Italy, that we'll be talking about shortly that allows people who just moved to Italy to benefit from the lower tax. You could combine these two.

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Author: Michael Rosmer

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