Italy wants to charge a 26% tax on wealthy residents leaving the country

Italy plans to impose a 26% exit tax on wealthy residents leaving the country, targeting unrealized capital gains on financial assets valued over 800,000 euros. This measure, included in the 2027 budget proposal by Giorgia Meloni's government, affects those who have been tax residents for at least six of the past ten years. The tax applies to asset appreciation, even if not sold, with provisions for deferral and potential refunds. This marks a shift from Italy's previous strategy of attracting wealth through fixed annual taxes on foreign income. Concerns arise among tax lawyers about deterring foreign investors. The government anticipates modest revenue from the tax, which still requires parliamentary approval and may face amendments.