Netherlands | September 2022 | Proposed amendment regarding the 30% ruling
In the new Tax Plan, the Dutch government announced that the benefit of the 30% ruling shall apply only up to a maximum salary in accordance with the so-called Balkenende norm”. The maximum salary for this norm amounts to € 223,000 for 2023 and shall probably be more or less the same for 2024. If approved by Parliament, the amendment regarding the 30% ruling shall take effect as of 1 January...
Euro 100.000 flat tax available to HNWI only without Anagrafe registration in the previous 9 years
Article 24-bis of the Italian tax code (Tuir) allows individuals with large estates (so-called High Net Worth Individuals) who transfer their residence to Italy, to access the flat tax regime of 100,000 Euro, with an exemption from the tax monitoring obligations (FormRW) and from payment of IVIE / IVAFE (estate taxes on assets held outside of Italy), as well as an exemption from inheritance...
Special tax regimes in Italy for individuals
Italy has been a country aimed at attracting talents in various sectors and special tax regimes are available to individuals, representing a strong motivation for moving to our Country:
impatriate workers: allows 70% tax reduction (or 90% for those moving to the South of Italy) for the benefit of employees and consultants with a VAT number. This regime lasts 5 years plus additional 5 in case...
Cryptocurrencies under the spotlight of tax authorities
Whether they are considered investments or means of payment, cryptocurrencies are increasingly attracting the attention of stakeholders. In brief, cryptocurrencies are under the spotlight.
These assets do not yet have a tax framework in Italy, although the Italian Tax Authority already provided some clarifications regarding direct and indirect taxation in specific Rulings.
In particular, with...
Social security position in Italy for foreign companies
The social security position in Italy for inbound employees is becoming more important for multinational companies.
In fact, the presence of a Totalization Agreement with Italy may risult in keeping the contribution of the employee in the country of origin, with an obligation for the foreign company to pay social security in Italy or minor contributions.
In both cases, it is necessary to open...
Social security for Italians hired by foreign companies
Italian employees hired by foreign companies with a local contract must carefully evaluate the social security obligations which vary according to the country where the employee is hired.
In such circumstances, a distinction must be made between:
EU countries, countries adopting EU legislation via specific agreements with the European Union countries with which Italy has entered into full...
Germany – Highest German Court confirms cum-ex trades is tax fraud
The highest German Court of Justice in Karlsruhe has ruled that it is illegal to reclaim dividend tax several times while the dividend tax has been paid only one time.
The scheme which came to be known as cum/ex fraud, involved buying and selling large amounts of stock around the payment date of dividends.
Although the dividend tax due was paid only once, it was reclaimed by both the seller...
Italy Inpatriates, countdown to 70% exemption as deadline for annual tax adjustments approaches
Inpatriates who transferred their tax residency in Italy as of January 1, 2020 need to prove their Employer by the end of December 2020 that they are entitled to 70% exemption applicable to the employment income produced in Italy by inbound workers who were not resident in Italy during the two years prior to the transfer in Italy and who are committed to remain in Italy for at least two years....
Cyprus – The deadline for payment of the Temporary Tax for the year 2021, is 31 July 2021.
All companies which are Cypriot tax residents, and which expect to have taxable income for the tax year 2021, must estimate this income and pay the temporary tax in two equal instalments before, or on, the following dates:
31 July 2021 – Payment of 1st instalment
31 December 2021 – Payment of 2nd instalment
It is noted that, the final tax liability for the tax year 2021 should be settled by...
The Netherlands – New permit procedures for employees hired from abroad
Starting 1 June 2021, the Netherlands has introduced a new procedure to make it easier for start-up companies to hire employees from abroad. This procedure is a pilot project which will last 4 years.
The procedure has been implemented as start-ups are often unable to pay the salary required for the current the current highly skilled migrant scheme. The purpose of the new procedure is to allow...