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Italy Exit Tax Worries
Giorgia Meloni’s government is seeking to impose a 26% “exit tax” on gains for people with assets worth €800,000 or more who move their activities outside Italy, provided they were tax-resident there for six of the ten years before leaving. Wealth-management experts warn that the plan could prompt millionaires to leave the country or deter them from moving there, and undermine Milan’s appeal, after the government raised the annual flat tax for the wealthy to around €300,000. Italy’s parliament is considering the proposed bill.
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