A good start to the New Year for those thinking of escaping the drear of a Brexit-bound UK and dreaming of relocation to Italy.
The latest budget, approved by the Italian government at the end of December, includes an incentive aimed at encouraging the repopulation of the smaller towns and villages of the South of Italy. The incentive is offered to any pensioner who has not been resident in Italy in the previous 5 years and who moves to take up residency in Sicily, Calabria, Sardinia, Campania, Basilicata, Abruzzo, Molise or Puglia in any Comune with a population of less than 20,000. Those interested can opt to have all of their overseas income – not just their pensions – taxed at a fixed rate of 7%. The incentive lasts for 5 years.
Five years in a hill-top town in Southern Italy? What’s not to like? Maybe by the time the incentive scheme ends they’ll have even sorted out the Brexit mess….