What about high-networth individuals that that have in the low millions in an indexfund in the U.S. but only generate 55-65k USD a year in dividends? Having to pay 100k Euros a year would bankrupt a person like that over time..
Great episode, Marco and Rafael. I heard something about another tax regime in Italy for individuals that have not stayed in Italy for the last 9-10 years and could get away with a lower tax like something 15-30% tax of their income. Maybe you have covered that in the past ?
Is this a benefit for high-net-worth or high-income individuals? I'm confused. Does Italy tax an individual's net worth AND one's income (if one is earning an income while in Italy)?
It seems like a wealth tax, basically a tax on unrealized capital gains.. which is pretty messed up actually. It should be a percentage of foreign income at least. Flat tax on assets a year is really insane unless that high networth individual has a networth of 6,10 or 15 plus million.
The possibility to file a pre approval application with the Italian tact authorities to see if one qualifies is quite handy. Thanks!
What about high-networth individuals that that have in the low millions in an indexfund in the U.S. but only generate 55-65k USD a year in dividends? Having to pay 100k Euros a year would bankrupt a person like that over time..
Great episode, Marco and Rafael. I heard something about another tax regime in Italy for individuals that have not stayed in Italy for the last 9-10 years and could get away with a lower tax like something 15-30% tax of their income. Maybe you have covered that in the past ?
Is this a benefit for high-net-worth or high-income individuals? I'm confused. Does Italy tax an individual's net worth AND one's income (if one is earning an income while in Italy)?
no, i think its not for the income earned in italy. 4.31
@@tatywork9126 It sounds more like a wealth tax. I don't know if Italy has a wealth tax. Thanks for your reply.
It seems like a wealth tax, basically a tax on unrealized capital gains.. which is pretty messed up actually. It should be a percentage of foreign income at least. Flat tax on assets a year is really insane unless that high networth individual has a networth of 6,10 or 15 plus million.