Monday, June 25, 2012

The tax man catches up

I recently heard that there were some Guardia di Finanza raids on stranieri across the country.  

I have been warning for while that stranieri are really quite easy to find.  The most obvious clue for the tax authorities is that someone has bought a house, taken residence (or not), and there are NO sources of income registered at the Agenzia della Entrate.  

Any income, whether sourced in another country and tax paid in that country, rental income from properties, investment income from offshore territories or otherwise, should be reported to the Italian authorities and assessed for Italian tax.  If not, then you are deemed to be deliberately misleading them.  Penalties and fines come next. 

Don't be the next to get caught in the act.