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New rules are starting to be set up by the Italian legislator in the after-Brexit European scenario. In tax fields, action comes on two fronts: foreign gift tax and foreign income tax. On the one hand, relative to gift tax, Marche’s Regional Tax Commission – Commissione Tributaria Regionale delle Marche – in a recent ruling, sentence 594/3/2016, stated that in the case of donations realized from a person who resides abroad, he is to be taxed on domestic immovable property, i.e. limited to those assets located in Italy. The Commission hence confirmed that taxation exclusively on domestic … [Read more...] about Brexit, Foreign Gift Tax and Budget Law for Foreign Income Sources
