Suspended - 20% tax on overseas transfers into Italy.

The witholding tax of 20% on overseas transfers into Italy has been suspended.

Breaking News: 20% witholding tax on transfers from abroad into Italy.

As of February 1st 2014 banks in Italy will be obligated to withold 20% of the amount relating to transfers coming into personal accounts from abroad.  The 20% will be witheld at source, by the bank, and unless an exclusion has been applied for it will be up to the tax payer to prove that the money is not 'income' from financial transcations abroad.    

Investing for a higher income

Investing for income, rather than capital appreciation, is as old as investing itself but its relevance becomes more noticeable in times of low bank interest rates. (Or historically low as the media likes to keep reminding us).