大约十年来，意大利一直致力于以巨额税收减免吸引全球富豪并召回意大利侨民。如今，它却释放出了混杂的信号。
For about a decade, Italy has been on a drive to attract the global rich and bring back Italian expats with huge tax exemptions. Now it’s sending mixed messages.
这个国家见证了大量富有的金融家和投资者涌入米兰，目前正在推行一项离境税，对金融资产超过80万欧元（约合900680美元）的人士在将居所迁往国外时，征收26%的未实现资本利得税。
The country, which has seen an influx of well-heeled financiers and investors into Milan, is working on an exit tax featuring a 26% levy on unrealized capital gains when people with over €800,000 ($900,680) in financial assets move their residence abroad.
该法律仍在议会审议过程中，将影响意大利人和长期居民，但极有可能豁免近几年涌入的超级富豪外国人。尽管如此，这种突然的举措可能被解读为规则和对待财富的态度可能迅速变化的证据，从而动摇百万富翁和亿万富翁往往最看重的东西：政治稳定和税收确定性。
The law, which is still making its way through parliament, will impact Italians and long-term residents while likely sparing the ultra-rich foreigners who came in recent years. Still, such an abrupt move could be interpreted as evidence that rules and attitudes toward wealth can change swiftly, undermining what millionaires and billionaires often prize most: political stability and certainty over taxation.
“按目前的草案来看，这很像是一种复杂的财富税形式，给人的印象是该国正在变成富人的‘金笼子’，”米兰A&O Shearman律师事务所合伙人弗朗切斯科·盖尔菲在接受采访时表示。
“As it is currently drafted, it looks a lot like a convoluted form of wealth tax and gives the impression that the country is becoming a golden prison for the rich,” Francesco Guelfi, a partner at A&O Shearman in Milan, said in an interview.
近年来，意大利在统一税率制度以及一项为在国外生活后迁居或回国的专业人士提供慷慨所得税减免的“引才计划”下，吸引了许多富裕人士。
Italy has attracted a number of wealthy individuals in recent years under a flat-tax regime, as well as an impatriation scheme offering generous income-tax breaks to professionals moving or returning to the country after living abroad.
得益于英国对富裕居民加税，意大利是最大受益国之一，其位于中欧的地理位置也吸引了许多超级富豪。其中包括荷兰裔的巴特·贝赫特，他是雷克本集团前高管；以及埃及第二大富豪纳西夫·萨维里斯。两人在从英国迁居后，正在意大利开启新生活。
It is among the biggest winners from the UK hiking taxes on its well-heeled residents, with its location in central Europe also appealing to many ultra-wealthy individuals. Among them there are Dutch native Bart Becht, a former Reckitt Benckiser Group Plc executive, and Nassef Sawiris, Egypt’s second-richest person, who are both building new lives in Italy after relocating from the UK.
统一税允许个人按固定年税额30万欧元缴纳境外所得税。因为他们通常将金融资产保留在意大利境外，这些资产一般不在拟议的离境税范围之内。
The flat tax allows individuals to pay a fixed annual levy of €300,000 on foreign-sourced income. Because they typically keep their financial assets outside Italy, those holdings would generally fall outside the scope of the proposed exit tax.
目前正在讨论的新税种将针对在过去十年中至少在意大利居住了六年的富裕个人的未实现资本收益。政府估计，明年将从这一新税制中筹集仅340万欧元。这一数字在未来四年将增至每年670万欧元，长期来看又将回落至340万欧元。
The new tax currently being discussed would target unrealized capital gains of wealthy individuals who have lived in Italy for at least six of the previous ten years. The government estimates it will raise just €3.4 million next year from the new tax scheme. That increases to €6.7 million per year in the next four years and falls again to €3.4 million in the long run.
尽管对于总额达260亿欧元的预算而言这只是一笔小数目，但面临明年大选的总理焦尔吉娅·梅洛尼正在向富人开刀，此时普通意大利人正面临5.6%的通胀和停滞不前的薪资。对生活成本上涨的担忧最近在全国范围内引发了一系列抗议活动。
While that’s a small amount for a budget worth €26 billion, Prime Minister Giorgia Meloni, who faces general elections next year, is targeting the rich at a time when average Italians are dealing with 5.6% inflation and stagnating salaries. Concern about the rising cost of living culminated in a series of protests across the country recently.
邻国法国对价值超过80万欧元的股票和证券征收类似的离境税，而西班牙则对价值超过400万欧元的投资征收此类税。美国的一项税收针对净资产超过200万美元、选择放弃公民身份或永久居留权的人群。
Neighboring France has a similar exit tax on shares and securities worth more than €800,000, while Spain has one on investments worth more than €4 million. A US levy affects people worth more than $2 million if they chose to give up citizenship or permanent residency.
意大利的提案还将影响那些利用“引才计划”人士，该计划允许在国外居住后将税务住所迁至意大利的合格工作者，在长达10年的时间里享受部分薪资免税待遇。
The Italian proposal would also affect people who used impatriation schemes allowing qualified workers who move their tax residence to Italy after living abroad to have part of their salary tax exempt for up to 10 years.
“这一惩罚性提案改变了多年前决定移居意大利的人的游戏规则，”Mistral Capital Ltd融资主管乔瓦尼·拉法表示，他在2021年底从伦敦搬到米兰，此前在伦敦生活了16年。
“This punitive proposal changes the rules of the game for people who decided to move to Italy years ago,” said Giovanni Raffa, head of capital raising at Mistral Capital Ltd who moved to Milan at the end of 2021 after 16 years in London.
“我无论如何都会搬过来，因为我的动机不仅限于税收优惠，但规则的不确定性显然是一个负面因素，未来可能会阻碍其他人做出同样的选择，”他说。
“I would have made the move anyway, because I was motivated by considerations beyond the tax incentives, but uncertainty over the rules is clearly a negative and could discourage others from making the same choice in the future,” he said.
存在漏洞。迁往欧盟国家或与意大利有协议的国家的个人，可以选择延期缴纳。他们将预先缴纳50%，如果在五到十年内（视具体国家而定）未出售其持仓，预缴款将被退还。
There are loopholes. Individuals moving to a European Union country or a state that has an accord with Italy could opt for a deferral of their payment. They would pay 50% up front and, if they haven’t sold their holdings within between five to ten years depending on the country, the advance would be refunded.
“反常的不是离境税本身，”帮助客户迁居意大利的税务律师、Maisto e Associati合伙人马可·切拉托说，“而是意大利在利用慷慨的税收优惠吸引海外富人多年后，发出了混合信号。”
“What is unusual is not the exit tax itself,” said Marco Cerrato, a tax lawyer and partner at Maisto e Associati who helps clients relocate to Italy. Rather, it’s “the mixed signal Italy is sending after years of using generous tax incentives to attract wealthy people from abroad.”