Italy aims to increase its flat tax on the foreign income of wealthy individuals who relocate to the country by 50 per cent to €300,000.
The increase, if approved by parliament, would be a severe blow to rich expats seeking to escape higher levies elsewhere in Europe.
Over the past decade, Italy, and particularly its financial capital Milan, has become a popular destination for the world’s super-rich, lured by the quality of life and tax incentives that allow them to pay a flat sum on all of their overseas income.
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