After the introduction of subsidized regime for the new residentsthe Department of Finance sums up the statements of the income 2023 relating totax year 2022. The legislation offers softer taxes to those who transfer their residence to the Bel Paese. The rationale of the provision is that of attract new taxpayers (in particular those with great economic resources) and to stimulate the reentry of the brains.
They are in total 37,331 new taxpayers who by transferring their residence to Italy have found the tax regime of their dreams. And nearly 1,000 are super rich. Everyone benefited from the same measure, but among them there are people with very different conditions: someone pays only 10% of the income earned in Italy; someone else has a tax base of only 50% of annual income; the richest pay the Italian tax authorities a total of 100,000 euros and close their accounts; others leave 7% of their pension to public coffers.
Among the 37,331 new Italian taxpayers there are 957 super rich. According to data from the Department of Finance, only 46% of them produced a total income of 75 million euros in Italy. This is mostly (86%) income from employment.
How the subsidized regime for new residents works
The subsidized regime has been in force since 2017 and provides that natural persons who move to Italy and opt for the new resident benefit apply asubstitutive tax on income produced abroad calculated as a flat rate equal to 100,000 euros for each tax period in which the option is valid. The relief applies to carrying out any work activity and can also be extended to family members, but for them the flat rate tax is reduced to 25,000 euros. The choice can be revoked at any time. The subsidized regime ends afterwards 15 years And it is not cumulative with benefits for the return of teachers and researchers and repatriated workers. For the income produced in Italy taxation remains ordinary.
From 2019 a form of subsidized regime is also applied to foreign pensioners who move to Italy. But the legislation only applies to transfers in 7 regions: Sicily, Calabria, Sardinia, Basilicata, Abruzzo, Molise and Puglia. The municipality of new residence must have a population of no more than 20,000 inhabitants. Nothing is paid in Italy on 93% of the pension from foreign sources. Only a 7% substitute tax applies.
According to data held by the Department of Finance, they are 474 foreign pensioners newly resident in the South and in the Islands. These people declared income from a foreign pension for a total of 19 million euros and income from foreign sources for 28.7 million euros. The declared substitute tax has almost reached 2 million euros.
Another measure concerns i teachers hey researchers who move to Italy: in the tax period in which the residence is transferred and in the following 5 the emoluments received contribute to the formation of the income from employment or self-employment to the extent of 10% of their amount and are excluded from the value of net production for IRAP purposes.
For the inpatriated workers the so-called “Brain Bonus” is active: a tax break that provides for taxation of 30% or 10% of income from employed or self-employed work.
Teachers, researchers and ipatriate workers
2022 data is also available for teachers and researchers affected by the exemption from taxation of 90% of income: these are over 3,300 new taxpayers who had an average gross income from employment of 56,492 euros.
The workers who impatriated were over 32,600 and produced an average income from employment of 114,501 euros.
