Tax planning perspectives with the Lump-Sum regime

The Private Client Services Andersen teams from Italy, Portugal, Spain, Switzerland and the United Kingdom recently published a comprehensive guide regarding their domestic remittance basis and lump-sum tax regimes.

These regimes are present in many jurisdictions and aim to attract non-resident High Net Worth Individuals. There are also several regimes for inbound workers, aimed to attract non-resident highly specialized individuals.

Some jurisdictions, like Italy, provide different regimes based on the non resident’s needs; like the ‘new-residents’ flat tax regime provided by art. 24bis of the Italian Income Tax Consolidated Act, conceived for High Net Worth Individuals willing to pay a 100,000.00 euro flat tax on all foreign-sourced income or the inbound workers’ regime contained in art. 16 of Legislative Decree n. 147/2015 which provides for a favorable taxation of employment and business income for 5 years.