Italy doubles its”flat-tax”to €200,000

On Wednesday, August 7, 2024, Italian government approved a measure that increases the “flat-tax” imposed on individuals who elect to be part of the regime and obtain tax residency in Italy. The decree doubles the existing 100,000 euros flat-tax to 200,000 euros (approximately $218,000) per year. The “flat-tax” regime in essence is a cap on […]

U.S. and Switzerland Sign New FATCA Agreement

July 1, 2024 U.S. and Switzerland executed a new intergovernmental agreement (“IGA”) to implement the U.S. Foreign Account Tax Compliance Act (“FATCA”) on June 27, 2024, in Bern, Switzerland. The new Model 1 IGA, to come into effect starting 2027, provides for the reciprocal automatic exchange of information, addresses legal impediments, reduces burdens for Swiss […]