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The tax on wealthy foreigners has doubled – this is the calculation behind Meloni’s move
Current status: 15:32Reading time: 3 minutes
On the other hand, raising the flat rate tax can also have political benefits. A measure to protect Italians from rising living costs caused by foreigners – which upsets many of Meloni’s voters. And the people of Milan too. Rents have increased by more than 40 percent in the past five years and nearly 20 percent in the past two years. So there is a lot of frustration. But will 200,000 euros instead of 100,000 euros a year really deter multimillionaires? I’d rather not. Economy Minister Giorgetti himself said that Italy remains “interesting” for rich foreigners. The new key only applies to newcomers who already have tax residency in Italy. The flat tax can be claimed for 15 years. This also applies to Italians who return home after more than nine years abroad. A similar model exists in Greece. Expats who invest there can pay a flat tax of €100,000, just like in Italy. This practice continues to be criticized from Brussels. It is unfair and harmful to the public finances to give huge tax breaks to extremely rich people, the EU stated in this year’s report on global tax evasion. He describes the flat rates in Italy and Greece as harmful.