Penalties for failing to declare taxes in Italy

Following on from my previous posts about tax changes that have taken place in recent months in Italy, I thought I should follow up with the possible implications of not following the rules given that the rules are being enforced more radically then ever.  The information is care of Philip Laroma Jezzi, International tax lawyer, Via Maggio 7, 50125 Firenze (FI).

An opportunity to meet and talk with the Spectrum IFA Group ITALY and HSBC Global Asset Management

BRINGING EXPERTS TO EXPATS IN ITALY

Following the success of the ‘Bringing Experts to Expats seminars’ across Europe, The Spectrum IFA Group are returning to Tuscany and Umbria in April 2012

·        Have you seen the interest on your savings fall in recent years?

· Can you purchase less than 5 years ago with the same income?

· Are you subject to increased taxes on your assets and earnings?

· Do the recent Italian tax evasion measures have you wondering if you are doing the

right thing?

The global financial crisis is now in its 4th year and there could be further shocks to

come. Government response has been to raise taxes and freeze pensions and incomes

in an effort to alleviate public finances.

However, in the midst of the crisis, we are helping our clients increase their incomes,save taxes, save bank charges and build their capital to provide protection for them and their families.

We will be hosting 'FREE' informal question and answer lunches from 12pm on the 26^th April at the Hotel Carignano, Lucca - Tuscany and from 12pm on the 27^th April at the ristorante Monnalisa in Castiglione Del Lago. Umbria.

This is your invitation to join us for a FREE lunch, ask questions, such as ‘what is the

economic outlook for Italy and the rest of Europe?’, ‘does offshore still exist?’, ‘how can I can increase my income and reduce my taxes’ and ‘how can the Spectrum IFA group help me?’

Our speakers will be the manager of the Italy branch, Mr. Gareth Horsfall, the Chairman of the Spectrum IFA Group, Mr. Michael Lodhi and Mr. Mark Newsam from HSBC Global Asset Management.


If you would like to attend this 'FREE' lunch then you can contact us on +39 3336492356 or email gareth.horsfall@spectrum-ifa.com to reserve a place.  Due to limited availability please book early to reserve a place. 


We look forward to hearing from you. 

Are final salary /defined benefit pension schemes really safe?

It is commonly thought that a final salary pension scheme (otherwise known as a defined benefit scheme) is the solution to all our retirement needs because of the guaranteed benefits it provides when you reach pensionable age.

The tax efficiency of a Life Assurance Investment Bond in Italy

Following on from a previous post about the tax efficiency of Life Assurance Investment Bonds in Italy, I thought that I would provide an example of the potential tax savings.  This is quite a mathematical blog post but one which I hope you will be able to follow:

For ease of understanding I will do a comparison:

Let's assume you have a diversified portfolio of assets to the value of €100,000 (either in Italy or in another country)