Is Italy the new tax haven for the global rich?

Discussion (5 Comments)Read Original on HackerNews

T-A•25 minutes ago

Worth noting: at 137% [1], Italy is now over the debt/GDP ratio where Greece lost control of its public finances in 2009 (127%) [2] (and France is not all that far behind at 115%). Current tax rules are unlikely to remain in place if/when the next crisis hits.

[1] https://ec.europa.eu/eurostat/web/products-euro-indicators/w...

[2] https://en.wikipedia.org/wiki/Greek_government-debt_crisis#E...

ndisn•about 2 hours ago

> Italy has already been attacked by the French Government for using tax incentives to lure wealthy French and other international residents away

Has France tried to compete instead of criticise?

A_Duck•about 2 hours ago

If your competitor is dumping (selling for an unsustainably low price) then competing your way to bankruptcy is not the right option

lotsofpulp•29 minutes ago

Seems like the US has figured it out:

>If you're paying a million euros of income tax a year in France, Italy is very tempting. As for US citizens, Americans are always taxable on worldwide income, so moving to Italy would not help their tax bill.

This characterization:

>selling for an unsustainably low price)

also applies to previous governments and voters that approved defined benefit pensions and retiree healthcare that needs ever growing populations to fund it.

I can see the situation just as easily be characterized as “avoid being liable for an unsustainable debt”.

ThePowerOfFuet•about 1 hour ago

>Has France tried to compete instead of criticise?

Yes, the last time being 2017:

https://en.wikipedia.org/wiki/Solidarity_tax_on_wealth

Is Italy the new tax haven for the global rich?

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Discussion (5 Comments)Read Original on HackerNews