Is Italy still territorial tax based?

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Monaco is full⁠ of tourists taking photos though... people rarely factor that in, it's nouveau rich choca block⁤ in summer.

The EU will introduce a︃ region wide taxation for crypto anyway...
 
@wellington
Everything depends which passport you have.
I would not recommend europe currently as it‌ will change massivly over the next 2 years.
Living officaly as wealthy in a communist‍ region is not something i would recommend.
polonieth posted already about the issue with jabs⁠ in western countries which are reducing massivly T-Cells which just started causing the over mortality⁤ .Soon it will get way worse and there are already laws which says to take⁣ peoples wealth to pay for the damages caused by jabs by 2024.
Also if you⁢ have not a non european passport it might happen at a specific time that you︀ won't be allowed to leave anymore.
All the high walls on US/EU borders are clearly︁ not build to keep immigrants out 😀
Based on history you can imagine who is always︂ building high walls for their citizens
 
Its not about people who didn't took the jab but about people⁠ who took the jab
 
For quality of life its Italy every time - and similar high tax⁠ countries over Malta. My understanding is if you really really want to sleep easy its⁤ 6 months plus one day in a tax-preferred country where you have your vital centers⁣ of interest and that you really like living in - plus that country has good⁢ dta’s with the high tax countries where you want to play and spend under 6︀ months and where your vital centers of interest are not located. M has many dta’s︁ but really anyone who has lived there knows the limitations of living for 6 months︂ on the most densely populated place in Europe. Like many small islands, M needs to︃ offer attractive packages to attract people - but the more established your wealth the more︄ likely you might want to find ways to be free of the ‘stuck on the︅ tiny island’ model. Naturally some people love the lifestyle offered by M and so its︆ all down to personal preferences. Other people truly like being a digital nomad who is︇ constantly moving and is careful enough to monitor and stay clear of every different country’s︈ tax traps and can use M as a shorter term stay and as part of︉ a very carefully made overall plan - but for people who like to put down︊ some serious roots in higher quality countries while sleeping easy at night, M can be︋ a good shorter term option to build wealth and later to move on to other︌ options.
 
oldtimer2 said:
For quality of life its Italy every time - and similar high tax countries over Malta. My understanding is if you really really want to sleep easy its 6 months plus one day in a tax-preferred country where you have your vital centers of interest and that you really like living in - plus that country has good dta's with the high tax countries where you want to play and spend under 6 months and where your vital centers of interest are not located. M has many dta's but really anyone who has lived there knows the limitations of living for 6 months on the most densely populated place in Europe. Like many small islands, M needs to offer attractive packages to attract people - but the more established your wealth the more likely you might want to find ways to be free of the ”˜stuck on the tiny island' model. Naturally some people love the lifestyle offered by M and so its all down to personal preferences. Other people truly like being a digital nomad who is constantly moving and is careful enough to monitor and stay clear of every different country's tax traps and can use M as a shorter term stay and as part of a very carefully made overall plan - but for people who like to put down some serious roots in higher quality countries while sleeping easy at night, M can be a good shorter term option to build wealth and later to move on to other options.
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In short: Italy is better than Malta smi(&%

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields

 
To be frank i liked Italy way better than Switzerland, people were⁠ a lot more relaxed and less insufferable in general.

Only city i really liked in⁤ Switzerland was Lausanne but the population is basically just younger adults still in University so⁣ the vibes are more laid back. Everywhere else, the arrogance was top of the list⁢ lol.
 
tbh most issues‌ talked about in this forum could be solved by following this mantra
 
I was wondering about the longer term privacy benefits of tax residency schemes where the‌ fiscal resident does not currently need to report their worldwide or foreign income. I suppose‍ some of the countries offering special tax residency regimes (examples such as UK, Ireland, Malta⁠ territorial non-dom, Portugal NHR, Italy and Switzerland lump sum type programs, etc) might not require⁤ the fiscal resident to declare all their foreign income perhaps because those tax authorities know⁣ most international financial institutions are or will eventually be reporting the resident‘s income etc back⁢ to the tax authority under CRS etc. Seems like Most countries and financial institutions now︀ demand to know where you are tax resident, where your businesses are located, where you︁ live, etc etc …. Meaning the tax authorities are just waiting patiently till they have︂ received all the fiscal resident‘s financial data. I am not saying they will use the︃ data to raise tax during the low tax period from the individual resident… but will︄ use it at least to develop a profile on them for later use. I wonder︅ if governments can now exchange lists of passport numbers of their (foreign) residents to cross︆ check their records and join dots. Anyone know? Or is that a scenario we might︇ expect sometime?
 
that's very true but math is a bitch - at‍ certain point you will find out that your life is too good to take any⁠ chances

to be specific - I can for example save hundreds of thousands on taxes⁤ just by deciding not to pay and no one would find out - however there⁣ is non-zero chance someone/somehow will in the next 10 years with devastating consequences and I⁢ don't want to and cannot afford to live in such a position just to save︀ some money

I'd rather burn the money than give it to criminal organization, supporting my︁ people's enemy bothers me more
 
what are you going to do after your lump sum regime is⁠ over? move to a new place? if you dont have a family its great, personally⁤ for me I would save and live in a small place which is not 10⁣ hectares and build a stable life in one country. But, I really respect your decision.⁢ to each their own
 
Such regimes are a joke. It's just for "foreign⁣ source income". For example, if you have BVI company and work with it. You will⁢ still have to pay tax in Italy.
 
A1988 said:
what are you going to do after your lump sum regime is over? move to a new place? if you dont have a family its great, personally for me I would save and live in a small place which is not 10 hectares and build a stable life in one country. But, I really respect your decision. to each their own
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I still have 10 years if I want, anyway this I setup was for solving a specific situation so I will probably end being an Italian taxpayer in a couple of years.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields

 
OK, I am an Italian tax resident at⁠ the moment and really disappointed with italy cuz they rejected my 70% - 90% exemption⁤ request and made my life extremely difficult during covid since I refused to take the⁣ vaccine (not allowed to enter specific places etc). I am planning to move somewhere else⁢ in europe for tax purposes and my kids would need quality education in the next︀ 3 years (they turn 1 next month). I would welcome your suggestion without any bias︁ 🙂. I will be posting my issue with the italian tax authority in a bit︂ in a completely new thread and would appreciate your input on that issue.

As they say, KARMA IS A BITCHHHH !!! LOL
 
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