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ARTICLE · 21 MARCH 2017

Italian Non-Dom Regime: Ready To Go

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Earlier than expected, the Italian tax authorities have issued further implementation measures that have enhanced the new res non-dom rules...

ItalyTax
Giulia Cipollini
Giulia Cipollini
Giorgio Vaselli
Giorgio Vaselli
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Earlier than expected, the Italian tax authorities have issued further implementation measures that have enhanced the new res non-dom rules, along with explanatory notes on assessing applicants' eligibility to the regime.

These new provisions are timely and bear witness to the Italian government's strong desire to attract HNWIs and successful business executives, sportspeople, artists and fashion designers. The non-dom rules allow for efficient wealth planning, and exclude non-doms from tax on foreign-sourced income, property taxes on foreign assets and provides exemptions on succession and gift taxes.

The details of the regime are now complete and it is immediately applicable from FY 2017. It is also available for those who became Italian tax residents for the first time in 2016 (although 2016 remains subject to the ordinary Italian rules). Below is a recap of the non-dom scheme's main features:

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