The threat of a tax increase for the wealthiest makes some French people want to go elsewhere. Italy is one of the preferred destinations according to tax specialists, who advise their clients on the right steps to follow.
“I thought we had avoided the worst with the ousting of the New Popular Front (NFP) from Matignon but the worst is surely to come.» Roland, retired in his sixties, refers to the words of the new Prime Minister Michel Barnier who “does not rule out” increasing taxes “on the most fortunate people”. Several avenues are mentioned: the return of the Wealth Tax (ISF), which was transformed, in 2018, into a Real Estate Wealth Tax (IFI), the enlargement of the IFI or the freezing of the scale of income tax.
Like two and a half months ago, when the NFP threat loomed over Matignon, after the legislative elections, the phone numbers of tax lawyers have been very heated in recent weeks. On the line, owners worried about seeing taxes increase, who are considering leaving France. “We are already heavily taxed between the IFI, income tax, corporate tax, property tax, tax…