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Italy is doubling its flat tax on tax-rich emitters that report fiscal transfers to the country. From now on, they will have to pay 200,000 euros a year.
Until now, the tax was 100,000 euros, equivalent to about 1.2 million Norwegian kroner. It was introduced in 2017 and will be enforced for up to 15 years.
In those years, it replaced all other taxes in the hope of attracting wealth to settle in the country. In addition, the authorities also wanted to attract wealthy Italians who evaded taxes to move back home.
Now the Prime Minister has Georgia Meloni A regulation was approved that caused a lot of noise:
Doubling the so-called flat tax on billionaires.
Industry Minister Giancarlo Giorgetti made the announcement on Wednesday.
He said 1,186 super-rich people moved to Italy for tax purposes after 2017, but said it was difficult to determine how much they actually invested in the country.
Giorgetti said the new tax rates were still competitive, but added that it was important for countries not to compete to offer the lowest tax rates to attract wealthy individuals and businesses.
– We are against launching such a competition because countries like Italy, which have limited room for fiscal action, are doomed to fail, he told a press conference.
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