New flat tax regime for high net worth individuals

Article 24-bis of the Italian tax code (Tuir) allows individuals with large estates (so-called High Net Worth Individuals) who transfer their residence to Italy, to access the flat tax regime of 100,000 Euro, with an exemption from the tax monitoring obligations (FormRW) and from payment of IVIE / IVAFE (estate taxes on assets held outside of Italy), as well as an exemption from inheritance & gift tax. A condition required in order to access the…

Starting from January 1, 2020, all high net worth individuals who left Italy during FY2011 qualifying as non Italian tax residents may access the flat tax regime provided for new residents with the payment of 100.000 Euro flat tax. The flat tax exempts the income produced outside of Italy from Italian taxes and waives new residents from tax monitoring obligations (RW Form), from the payment of the IVIE (wealth tax on real estate), IVAFE (wealth…

Dal 1 gennaio 2020, gli high net worth individuals che hanno lasciato l’Italia nell’anno 2011 iscrivendosi all’AIRE o cancellandosi dall’Anagrafe possono accedere al regime previsto per i “nuovi residenti”, trasferendo nuovamente la propria residenza in Italia e pagando un’imposta sostitutiva di 100.000 Euro che esclude da imposizione fiscale in Italia i redditi prodotti all’estero ed esonera dagli obblighi di monitoraggio fiscale (quadro RW), dal pagamento dell’IVIE e dell’IVAFE e dal pagamento dell’imposta sulle successioni e…

June 16, 2016 The Italian tax authority has just released Memorandum n. 28/E commenting on the news introduced by 2016 Stability Law regarding tax advantages on salary premiums and on the implementation of welfare plans for the benefit of companies and employees, with the opportunity to obtain substantial tax and cost savings. For any further information, please contact us.

March 25, 2016 The Italian Supreme Court has released Judgment n. 4482/2016 stating that the inheritance tax is due in the measure of 8% when the Trust is self-declared (i.e. when the settlor appoints himself as a trustee and beneficiary). The Judgment is consistent with the guidelines already provided by the Italian Tax Authority in several Memoranda. For any further information feel free to contact us.  

March 13, 2015 The Italian Tax Authority releases Memorandum n. 10/E dated March 13, 2015, containing the guidelines about the Voluntary Disclosure procedure, clarifying the application field, the fulfillments, the application range and related penalties. For any further information, please contact us.

06/03/2015 The Italian tax authority, in Memorandum n. 9/E dated March 5, 2015, provides important guidelines on the foreign tax credit calculation, commenting on the necessary documents in order to prove its entitlement and on the concept of “final tax”, recalling the law principles as well as previous comments released by the Italian authorities. For any further information, please contact us.