Italy Doubles Foreign Income Tax

This is a Italy news story, published by Guardian, that relates primarily to Juso news.

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wealthy foreign residents

Guardian

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No more fiscal favours? Calls to tax super-rich gain traction around world

Summary

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70% Informative

Italy doubled a flat tax’ on foreign income from 100,000 to 200,000 ( about 85,500-171,000 ) that a previous government brought in to attract wealthy investors.

Italy ’s low tax on foreigners and their income gained abroad did its job after 1,186 rich individuals adopted the country as their tax residency, but protests this year showed it was out of line with the prevailing mood.

Youth section of the Swiss Social Democrats ( Juso ) proposed an inheritance tax of 50% on estates worth more than50m Swiss francs ( 45 m) Juso collected 130,000 signatures in support of its Initiative for a Future’ petition, crossing the 100,000 threshold set by the Swiss parliament for a nationwide referendum.

The Swiss government said it would campaign against the tax when a referendum is held within the next two years .

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