So now they added a new 20% tax on private bank transfers from UK bank accounts to italian ones.
Just saying: be wary if your government gets inspired.
In the UK you can get a Ltd. up and running within 24 Hours for what is essentially pocket change.
The UK has exceptionally friendly laws and regulations concerning doing business and I wish more European countries would imitate them.
You only need to pay in half of that though (until your GmbH goes bust with debts, that is). And since 2008 there's a mini-GmbH for 1 euro: https://de.wikipedia.org/wiki/Unternehmergesellschaft_%28haf...
If you just want a registered business and VAT ID but don't need the corporate form, on the other hand, you can do that part for about 100 euros and an even shorter webform.
You file on the web. You declare your monthly income and pay 24.5% tax, all inclusive of your income taxes. Even if you make no turnover the first months, you benefit fromthe health insurance, and you could even get the €400 survival allowance ("RSA"). If you reach 30k€/yr, you must file a proper company and you'll get the normal 75% tax rate.
I think we have a good system to let people start companies. Website is ugly and we live at the Cobol & Paper age, but we got this little part right. That was brought by Sarkozy.
Ow.
Isn't that against EU laws on freedom of movement of currency?
Yes, the duty of proof is opposed to the normal (you need to prove you are innocent).
How is this legal under EU law of free movement of capital?
via http://www.zerohedge.com/news/2014-02-16/money-launderer-unt... original italian news http://www.ilsole24ore.com/art/notizie/2014-02-13/ritenuta-a...
It's a presumption that the transfer is taxable income and a requirement to demonstrate otherwise. That's a very heavy tax enforcement process, but in theory you can get the 20% back if it's not income. If it is income, you should have paid the 20% anyway.
There is no particular need to have a 'local' account - you can pay all your bills with EU/SEPA payments from any european bank, the prices/etc will be the same, and you can do your daily purchases with a non-local card just as well.
