Tax incentives to attract human capital

24 January 2020

On June 28, 2019, the Italian government converted article 5 of law decree no. 34/2019 (the "new growth decree") in law, in force on 30 June.

The new growth decree brings important news to the special tax regime to attract human capital to Italy. New tax incentives are introduced for entrepreneurs, employees, self-employed workers and other workers in general, entering Italy, who move their tax residences to Italy starting from 2020.

What are the incentives?

• the reduction of the taxable income to 70%.

• A 50% tax exemption for employees with at least one minor child or employee, also in pre-marital custody.

• A tax exemption of 90% (tax base of 10%) for employees with at least three minors or dependent children, also in premarital custody.

• in the event that the residence is transferred to one of the following regions Abruzzo, Molise, Campania, Puglia, Basilicata, Calabria, Sardinia and Sicily) the concession arrives 90%.

• for professional athletes, there is a 50% discount on income and the payment of a contribution equal to 0.5% of the tax base, to support the confederation of the professional athlete.

This facility for sportsmen is added to the tax incentives for people of high net value (HNWI) who transfer their tax residence to Italy. In fact, for these subjects, a tax of 100,000 euros on an annual basis is applied, on the income of the product abroad.

This is an interesting initiative that is also giving good results in the area of Lake Maggiore, in particular Stresa.

In fact, we are numerous requests from Europe but also from the United States, for people who are looking for their home or villa for sale.

Of course, the apartments for sale also have a good interest, especially those with a terrace and a view of Lake Maggiore and the Borromean mountains.

Our real estate agency is able to support these customers with a taylor made service.

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