Italy's Meloni government proposes exit tax on wealthy emigrants in 2027 budget
Italy's government under Prime Minister Giorgia Meloni has proposed an exit tax on wealthy individuals who move their tax residence abroad, as part of the 2027 budget bill now under parliamentary review. The levy would target people with assets of €800,000 or more and cover unrealized investment gains. Sources differ on the rate: Die Welt and Le Monde report 26%, while Reason reports 25%. The measure would mark a shift from Italy's decade-long policy of attracting ultra-wealthy tax migrants, and critics warn it creates investor uncertainty.
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Italy Proposes 26% Exit Tax on Wealth Over 800,000 Euros
Italy's government under Prime Minister Giorgia Meloni has proposed a special exit tax as part of its 2027 budget plan, targeting individuals who leave the country. The levy would apply to those with assets exceeding 800,000 euros and would also cover unrealized gains. The proposal, reported by Die Welt, represents a potential new fiscal measure aimed at high-net-worth individuals departing Italy. Further details on implementation and scope were not specified in the source.
Read sourceItaly Proposes 26% Exit Tax on Wealthy Emigrants Under Meloni Budget Plan
Italy's government under Prime Minister Giorgia Meloni has proposed a special levy on individuals leaving the country as part of its 2027 budget plan. The exit tax would apply to people with assets of 800,000 euros or more and would also cover unrealized gains. The proposal targets wealthy individuals who relocate abroad, potentially affecting those with significant holdings in Italy. The measure is part of broader budget planning for 2027 and would need to be finalized and approved before taking effect. The article does not specify implementation details or exemptions.
Italy's Meloni government proposes exit tax on wealthy individuals leaving the country
Italy's 2027 budget bill, currently under parliamentary review, proposes an exit tax targeting large fortunes that decide to leave the country. The measure would mark a shift from a decade-long policy aimed at attracting ultra-wealthy tax migrants to Italy. Unlike other major European economies, Italy has so far lacked such a tax. Under the current proposal, financial income earned during residency in Italy by individuals above a threshold of 800,000 euros would be taxed, with only latent capital gains subject to a 26% rate. Wealth advisory firms reportedly view the measure as a potential concern for their clients. The policy adjustment comes ahead of legislative elections expected in 2027, with the positive effects of the previous attraction strategy described as difficult to identify.
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Italy Proposes 25% Exit Tax on Wealthy Residents Moving Abroad
Italy's proposed 2027 budget includes a 25 percent exit tax on wealthy residents who move their tax residence abroad with at least €800,000 (about $896,450) in assets. The tax would apply to accumulated but unrealized investment gains for individuals who lived in Italy for at least six of the previous 10 years. Those moving to the European Union or certain other countries could delay payment until they sell their investments, but must pay 50 percent of the tax up front. Critics argue the proposal is poorly defined, creates uncertainty for investors, and could discourage wealthy people and businesses from moving to or remaining in Italy. The proposal is modeled partly on France's exit tax but appears more restrictive due to its up-front payment requirement.
Italy Proposes 25% Exit Tax on Wealthy Residents Moving Abroad
Italy's proposed 2027 budget includes a new 25 percent exit tax on wealthy residents who relocate their tax residence abroad with at least €800,000 (about $896,450) in assets. The tax would apply to accumulated but unrealized investment gains, provided the individual lived in Italy for at least six of the previous 10 years. Those moving to the European Union or certain other countries could defer payment until they sell their investments but would still owe 50 percent of the tax upfront. Critics argue the proposal is poorly defined, creates investor uncertainty, and could discourage wealthy individuals and businesses from moving to or staying in Italy. The measure is modeled partly on France's exit tax but appears more restrictive due to its upfront payment requirement.