Affordable Italy: Living la Dolce Vita on a Bootstring Edited Moving to Italy: Taxes with Nicolo Bolla
Oct 8, 2023
Nicolò Bolla, a certified accountant specializing in Italian taxation for expats, dives into the complexities of moving to Italy. He debunks the myth of high income tax rates and reveals the enticing 7% flat tax for retirees. The conversation covers essential visa options, the intricacies of the IRPEF tax system, and vital tax strategies for expatriates. Nicolò also discusses how to navigate capital gains tax and the impact of residency on tax obligations, providing invaluable insights for anyone dreaming of living la dolce vita.
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IRPEF Applicability
- Non-citizen Social Security and U.S.-sourced salaried income are subject to IRPEF.
- Dual citizen government pensions and non-citizen government pensions are not subject to IRPEF.
Rental Income Taxation
- Foreign rental income is always IRPEF taxable.
- For Italian rental income, choose between IRPEF and a substitute tax if it's residential property.
Cedolare Secca Benefits
- Cedolare Secca offers a flat 21% tax on residential rentals to individuals, potentially reduced to 10% in certain cases.
- Lowering rent to meet 10% criteria may yield higher net income for landlords.
