Well, a good place to live, but many disadvantages: High taxation, both direct and indirect (though flat at 28% for capital gains), long and cold winters, sometimes even "cold" summers. Expensive to live here. A car which costs 20000 euro in Italy costs about 40000 euro in Norway. Besides, much more culture and things to see in Italy. Not much to see in Norway except the countryside. I d like to live abroad for some time, i have the opportunity now where I can work from wherever i want.
I contacted an Italian trader to try to get some confirmation of the 12.5% CGT rate. Now I am confused , here is what he says; there are 2 way to declare capital gains: 1) Risaparmio gestito The italian broker pays the 12.5 % tax . You can offset gains with losses of the previous year. 2) Normal declaration: You report your gains which are added to your other incomes and are taxed at the income tax rate. The total of all incomes determines your tax bracket. Does that mean Option 1 is only availabe if you trade through an Italian broker? If that 's not the case and you really are free to choose, why wouldn't the Revenue try to tax you at the income rate if you are a professional?
@ Kicking: -Thats right...but for Risparmio gestito you can offset gains with losses of previous 5 years. -Is true, if you choose a non-italian broker you can use only the second option. ps:I'm italian
are you the analyst ? are you sure that if you use a US broker you pay the income tax rate ? Someone asked that question in the other "Trading in Italy" thread and some traders came out saying it was 12.5 % even if you had a foreign broker -in that case you had to report profits every year. http://www.elitetrader.com/vb/showthread.php?s=&threadid=24660&highlight=trading+in+Italy
Seems strange if you have to pay a higher tax rate if you use a foreign broker than an Italian one? A capital gain is a capital gain regardless of the broker?