Favourable Flat-Tax regime for new residents

Mar 09, 2017

On March 8, 2017, the Italian Revenue Agency (Agenzia delle Entrate) has issued the flat-tax regime implementing provisions. The law is now fully effective. Guidelines and checklist of requirements are now available.

Individuals who become Italian tax residents can take advantage of a substitute tax regime on their foreign income. Regardless of its amount, foreign income will only be subject to a yearly flat tax of € 100,000. Close family members can also benefit from the favorable tax measures: a flat tax of just € 25,000 – instead of € 100,000 – will be applied to their foreign income. Moreover, opting for the new regime guarantees full exemption from reporting requirements with respect to financial and non-financial assets abroad and from succession duties on assets outside Italy.

To qualify for the option the applicant must not have been resident in Italy for at least nine tax years during the previous 10 years; eligible taxpayers can ask to benefit from the substitute tax regime when filing the tax return; before then, it is possible to submit a preliminary ruling (interpello) to the Italian Revenue Agency.

For further informationNew residents regime

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