Italy amends tax incentives aimed at attracting foreign individuals
Do you have an interest in tax incentives for foreigners in European countries? Italy recently made amendments to its tax laws that affect those under its res-non dom regime. MGI Worldwide member firm MGI Studio Pragma, in Fano, Italy explains more in its recent newsletter.
Repeals and amendments to the law
During the last years, several jurisdictions have been amending or repealing their tax incentives aimed at attracting foreign individuals. Italy has taken a similar path and has decided to make some amendments to its own res non-dom regime through the Law Decree no. 113 of 9 August 2024. The decree has doubled the amount of the substitute tax which is now due for an amount equal to 200,000 EUR for each fiscal year in which the regime applies.
This raise in the flat tax, however, will only affect individuals who move their habitual abode to Italy after 10th August 2024.
For any questions, please contact Francesco Bartolucci at [email protected]. Alternatively visit the firm's profile page or website.
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