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ARTICLE · 17 JULY 2017

Curtis Italy – Tax Update – 2017

Curtis, Mallet-Prevost, Colt & Mosle S.C.
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With the Italian Budget Law for 2017, a new preferential tax regime aimed at attracting high-net-worth individuals to Italy has been enacted.

MexicoTax
Fabrizio Vismara
Fabrizio Vismara
Alice Venturini
Alice Venturini

Italy introduces a preferential tax regime to attract high-net-worth individuals

With the Italian Budget Law for 2017 (Law n. 232 of 11 December 2016), a new preferential tax regime aimed at attracting high-net-worth individuals to Italy has been enacted. In essence, this "new residents regime" allows individuals who transfer their tax residence to Italy to opt for an annual flat tax of Euros 100,000 (for each fiscal year) on their non-Italian source income and/or gains.

The Italian Tax Agency has also recently released guidelines concerning the operation of this regime, notably the exercise of the option, its modification and revocation, as well as the payment of the flat tax.

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