New law on bank transfers?
Mar 25th 2014, 8:29 am
#1
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Joined: Mar 2014
Location: Venice
Posts: 2
New law on bank transfers?
I'm new to the forum so I may have missed a discussion on this topic: if so, apologies.
I learned yesterday of a new law which will mean that transfers to an Italina bank from a foreign bank will be taxed at 20%. Since my husband's pension is paid into our Italian bank this is pbviously of great concern.
Any more information out there?
I learned yesterday of a new law which will mean that transfers to an Italina bank from a foreign bank will be taxed at 20%. Since my husband's pension is paid into our Italian bank this is pbviously of great concern.
Any more information out there?
Mar 25th 2014, 9:20 am
#2
BE Forum Addict
Joined: Nov 2009
Posts: 1,679
Re: New law on bank transfers?
I'm new to the forum so I may have missed a discussion on this topic: if so, apologies.
I learned yesterday of a new law which will mean that transfers to an Italina bank from a foreign bank will be taxed at 20%. Since my husband's pension is paid into our Italian bank this is pbviously of great concern.
Any more information out there?
I learned yesterday of a new law which will mean that transfers to an Italina bank from a foreign bank will be taxed at 20%. Since my husband's pension is paid into our Italian bank this is pbviously of great concern.
Any more information out there?
Mar 25th 2014, 10:29 am
#3
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Joined: Dec 2009
Posts: 2,512
Re: New law on bank transfers?
Its been put in the bad unworkable ideas drawer, so forget about it
Mar 25th 2014, 10:56 am
#4
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Joined: Mar 2014
Location: Venice
Posts: 2
Re: New law on bank transfers?
Fingers crossed it stays in the unworkable ideas drawer!
Mar 25th 2014, 11:35 am
#5
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Joined: May 2010
Posts: 538
Re: New law on bank transfers?
It will certainly for transfers within the EU as breaches free movement of capital principal. A big embarrassment for Italian legislators. Won't be coming back certainly in initially proposed format.
Mar 25th 2014, 12:16 pm
#6
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Joined: Feb 2014
Location: Lago di Como, Lombardia, Italia
Posts: 262
Re: New law on bank transfers?
Correct - All EU transfers inwards are free of taxation/withholding tax. EU law.
Only tax can be applied to income earned (e.g. declared on tax residency/income from shareholding/dividends/rents etc) within the country.
The trick is to only transfer what you need into the country like Italy and Spain (keep a minimium) and the rest offshore.
Only tax can be applied to income earned (e.g. declared on tax residency/income from shareholding/dividends/rents etc) within the country.
The trick is to only transfer what you need into the country like Italy and Spain (keep a minimium) and the rest offshore.
