Italy Impose Attractive Tax Rates for Foreign Retirees

Italy's has released its 2019 Budget for the upcoming financial year. A new tax regulation has been implement giving retired foreign pensioners tax breaks to reside in certain areas of the country.

Going forward from January 1st, those receiving pensions are offered a 7% tax reduction on all foreign-sourced income and profits that fall outside their pension income. The scheme is also offering an exemption on wealth taxes on foreign assets for anyone willing to purchase property in specified areas.