2017 Italian Flat Tax: move your residence in Italy and obtain fiscal benefits by purchasing a prestigious property here

2017 Italian Flat Tax: move your residence in Italy and obtain fiscal benefits by purchasing a prestigious property here

Great Estate Network , Real Estate Insights Apr 01, 2017 No Comments
The last Italian Budget Law introduced, as we know, the 2017 Flat Tax: a new flat tax of advantage of about 100.000€ and applicable to the abroad-generated incomes. Rich international entrepreneurs who are going to move in Italy will have the possibility to choose to pay a fixed tax on their abroad-generated incomes.

The Italian Agenzia Delle Entrate, pursuant to the specific regulation of March, 8th2017, explained it very well.

The 2017 flat tax, as already said, is an optional flat tax applicable to the income of the international rich people who want to move in Italy and who will result, at least for 9 of the 10 previous years, resident abroad. This option can be used for a maximum period of 15 years. On the planned date of the income taxes payment and through a unique payment, the flat tax total amount will have to be paid. For every accompanying family member, 25.000€ have to be added too. This rule is not applied to those who, in this years, moved into Italy. 2017 Flat Tax will allow to tax the abroad-generated incomes only. Regarding the Italian ones, international entrepreneurs will be subjected to the incomes normal tax arrangement, i.e. the Italian Irpef taxation based on shares and classes. 

Which requisites will have to be respected in order to participate to this regime?

This option should be practiced within the tax return tabling deadlines, so within September, 30th. You can also apply before starting your residence moving or before the Italian Agenzia Delle Entrate response to your application for consult. You will only have to mark the specific box on your income tax return paper. In addition to your biographical data, as already explained, you will also have to specify your “non-resident” status for a period of at least nine tax years during the last ten years, the option validity starting, the last fiscal deadline and the countries or foreign territories for which you are going not to use the substitute tax. 

Concretely speaking, the 2017 flat tax objective is to attract and encourage the high net worth individuals’ residence moving in Italy. Those rich people who, up to now, have preferred other countries as the UK, where wealth is less taxed than Italy. However, after Brexit and the 2017 Italian flat tax, the situation may change. 

Flax Tax 2017 : Acquistare un immobile di prestigio in Italia, trasferirvi la residenza ed ottenere vantaggi fiscali

So, our country proved itself to be ready to welcome part of that financial flow caused by Brexit and which will modify the European balances: Italy is ready to welcome thosehigh net worth individuals who will choose the Bel Paese as their new residence.

Un' immagine del Casale " La Dimora di Ulisse ", Cetona, Siena, Toscana, proposto in vendita da Great Estate
La Dimora Di Ulisse, Cetona, Siena.
Un' immagine di " Casale Delle Rose ", Cetona, Siena, Toscana, proposto in vendita da Great Estate
Casale Delle Rose, Cetona, Siena.

For this reason, it is an important “historic moment” for our international clientele who wants to purchase a farmhouse, villa or another prestigious property proposed for sale by Great Estate by enjoying of some interesting and significant fiscal benefits. 

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Marianna Gaiotto

International Sales Consultant - Great Estate Network

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