![]() Italy’s commercial output includes many of the world’s most iconic luxury brands.Īs a result, Italy is often synonymous with the finer things in life good food, high culture, elegant architecture, luxury fashion and a strong motor racing pedigree via brands like Alpha Romeo and Ferrari. The country has a diverse economy, though the North tends to be more industrialized while the South is generally more agricultural. Italy was one of the founding members of Europe and is also a founding member of NATO. In 1958, the Treaty of Rome gave birth to what would eventually become the EU. Today it remains one of Europe’s great cities and a major tourist attraction. The capital city, Rome, dates back to the founding of the Roman Empire. The tiny landlocked Republic of San Marino also lies within the Italian peninsula, some 141 miles (227 km) from Rome. ![]() The Alps mountains lie to the North of the country, where it shares land borders with France, Switzerland, Austria, Liechtenstein, and Slovenia. The long boot-shaped country separates the Mediterranean from the Adriatic sea. Italy is a southern European country of over 61 million people. ![]() Next, we look at the €100,000 flat tax regime we recommend for HNWIs who earn most of their money abroad.įinally, we compare that €100,000 regime with Italy’s relocation tax system, which is ideal for those looking to earn their money in Italy while still reducing their tax burden. We start with a look at the 7% flat tax for retirees. We discuss the three new changes to the Italian tax code and what they mean. This article looks at the Italian tax system and the implications of tax residency in Italy. ![]() ![]() These new flat taxation regimes go a long way towards reforming that reputation to make Italy more financially inviting. Traditionally, the country has a reputation for high taxes, with a progressive income tax system that targets the wealthy at higher rates, plus regional and municipal taxes. Italy has recently introduced some changes to its tax code, providing several significant benefits to foreigners interested in relocating to savor a taste of Italian living. ![]()
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