Story perspectives
Italy Increases Wealthy Foreign Tax Amid Economic Concerns
10/17/2025
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Story summary
- Italy plans to raise the levy on foreign income for wealthy new residents from €200,000 to €300,000.
- The policy keeps a 15-year exemption for foreign earnings under a flat tax.
- Prime Minister Giorgia Meloni said that €11 billion in tax increases on banks and insurers will not harm the economy.
- The government aims to support middle-income earners.
- Critics warn about Italy's credibility and the financial sector's response.
