Kira Egorova, ALRUD Of Counsel, prepared an article for the September issue of SPEAR’S magazine. The article is devoted to the Italian new program of tax residence in Italy. Partners of Italian law firm Maisto e Associati – Alessandro Bavila and Nicola Saccardo - acted as the co-authors.
The article describes special aspects of tax residence program in Italy, features of individual’s taxation as well as conditions at which the program can get private clients interested in.
In such a way, the program allows the participant to pay an annual fixed tax in the amount of 100 thousand euros and in the same time releases all foreign income from additional taxation. Moreover, the property, inheritance and donation will not be taxed and all foreign assets are exempts from the Declaration.