The annual seminar was held this morning at the Embassy of Italy in London, organised by Ambassador Pasquale Terracciano with the collaboration of Belluzzo & Partners law firm. The seminar covered developments in tax and legal matters, presented by experts in the field.
The seminar took place days after the approval of new regulations on non-domiciled residents in Italy which offer incentives to Italians and foreigners who transfer their tax residence to Italy. The event was, therefore, a useful opportunity to give added visibility to the latest developments on British and Italian cross-border tax and legal regulations.
As well as explaining the repercussions of the changes in the fields of tax and business, the seminar was an opportunity for the entrepreneurs themselves, both British and Italian, to assess business opportunities in their respective countries.
Ambassador Terracciano opened the first session which saw Fabrizia Lapecorella, the director general of finance at the Ministry of Economy and Finance, and Andrea Zorzetto, a policy adviser with HM Treasury, give a presentation on “The new dialogue between business, citizens and fiscal authorities in Italy and the UK”.
The second presentation, given by Luigi Belluzzo and Alessandro Belluzzo, the founding partners of the firm, focused on the recent “non-dom” legislation and the British public budget which was recently announced, looking at how they have been shaped by the Brexit vote.
The seminar ended with a round-table discussion entitled “Fiscal and economic policies in Italy and the UK: from a business viewpoint”, which was moderated by Francesco Guerrera, the associate editor of Politico Europe.
Speaking after the event, Alessandro Belluzzo observed: “The 2017 budget, presented on 8 March, largely confirmed our expectations in terms of lower company tax, which will be reduced to 17%; higher tax on wealthy individuals; and lower tax on non-domiciled residents for the first fifteen years of their residency.” He added that the reforms were not a result of the Brexit vote and that we will not know until the financial law is announced in autumn 2017 whether Brexit will lead to further changes in British tax policy.
