Flat Tax: why Milan?

The new “flat rate tax” of 100,000 euro a year will apply to all foreigners who will declare being Italy the country of their first residence, for tax purposes. Such possibility can also be extended to any family member for an amount of € 25,000 per member per year. This flat tax replaces any personal income tax normally due on any foreign income. This privileged tax status is available for up to 15 years.

The payment must be done in one solution for every fiscal year covered by the tax, within the deadline for the payment of the income tax balance. 

The flat tax covers the income produced abroad but does not apply to capital gains earned through the sale of financial holdings during the first five tax years of validity of the measure. The request can be filed in person and sent by certified mail.

Why Milan?

Although not the capital of Italy, Milan has always been the leading city in the country. Finance, industry, fashion and services capital, Milan is the starting point for any adventure in Italy. It's the place where new fashions and trends, whether intellectual or more ephemeral as those related to fashion, appear and begin to make themselves known.Milan is then in fact the only truly international city in our country; do try to sit on a bench in one of our city parks and you will hear French, German, Russian, Arabic ... the world has discovered our Milan and made it its home, what are you waiting for doing the same?

To have more information about the Tax Flat or a consultancy to sell or buy a property in Milan, contact us by calling the 0039 029443331 or write to milanocentrostorico@engelvoelkers.com, it will be our pleasure to offer a tailored made consultancy.