To declare or not to declare

[newNomad]

Konstanz said:
simple. Tax inspector will get information through CRS or some other way that person has income and there is no declaration. So they will ask to evidence of emigration, etc
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Now I see why so much discussion about CRS and diverting the report to a 3rd party jurisdiction or at least avoiding getting reported to 'home' jurisdiction..

 

[Konstanz]

newNomad said:
Now I see why so much discussion about CRS and diverting the report to a 3rd party jurisdiction or at least avoiding getting reported to 'home' jurisdiction..
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Yes, this is simply technical thing. Especially if you are CITIZEN of Italy. Italy will definetly get some information through CRS. They will see that you do not declare any income in Italy. So , they will ask to proove everything that you don't need to declare. Also probably they will check some years back.

What country are you moving to?

 

[ilpablo]

legrant said:
Yeah, that's not the problem, they won't try to seize assets outside of Italy unless it's in the millions. The problem is that if you want to go back to Italy and live there, they'll seize your wage, property, etc. A person I know (in Spain) has had his income from renting a property taken away because of just a 1500 Eur debt to the taxman.

So, if @ilpablo doesn't think he'll ever touch Italy again, not declaring it should be fine, however, there's a risk of them seizing your assets (if you stay in Europe) if they get cocky and if you ever want to go back to Italy they'll 100% get their money back.
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I'm not even considering to be in that position that i can't come back to my own country for this reason

 

[legrant]

ilpablo said:
I'm not even considering to be in that position that i can't come back to my own country for this reason
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Then, you already know the answer to your question. Pay your taxes and then go wherever you want to go

 

[newNomad]

just to be precise, not that the OP cannot return to Italy, of course he can even hang around, vote, go to the beach, even probably have a single main house and furniture on his name. but cannot own OTHER property / stocks /cash as it would be seized

 

[legrant]

newNomad said:
just to be precise, not that the OP cannot return to Italy, of course he can even hang around, vote, go to the beach, even probably have a single main house and furniture on his name. but cannot own OTHER property / stocks /cash as it would be seized
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Main house bills have to be paid, they'll get the money from there

 

[uplana]

newNomad said:
just to be precise, not that the OP cannot return to Italy, of course he can even hang around, vote, go to the beach, even probably have a single main house and furniture on his name. but cannot own OTHER property / stocks /cash as it would be seized
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better go the Dubai way don't you think?

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