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Italy Taxes Its Wealthy
Giorgia Meloni’s government plans to impose a 26% tax on capital gains for people who move their tax residence abroad, provided they spent at least six of the previous ten years in Italy and have assets worth more than €800,000, excluding bank accounts. The proposal was included in the draft 2027 budget, and the government estimates it will raise about €3.7 million next year. It has drawn criticism from those warning that it could make Italy less attractive to investors and wealthy people. The tax can be paid in instalments when moving to another EU country and refunded if the person returns. In some cases, it can also be avoided by transferring assets to a trust fund in Italy.
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