Papers & money
Tax & money
Tax residence, the 50% impatriati regime, declaring foreign assets, the yearly tax calendar and opening a bank account.
Checked November 2026 · rules change, so confirm fees and deadlines on the linked official pages
Tax and money basics
- You become Italian tax-resident once you live here most of the year (183+ days) or register residency. Italy then taxes your worldwide income; the India–Italy and Indonesia–Italy tax treaties prevent double taxation. Your Indian bank accounts may need to switch to NRO/NRE status.
- Regime impatriati (for any nationality moving here): only 50% of qualifying work income is taxed for 5 years (60% exempt with a minor child), capped at €600,000 of income. You must not have been Italian tax-resident in the previous 3 years, must hold a qualified role, and must stay at least 4 years or pay it back. Ask HR or a commercialista before your first payslip.
- Foreign assets (bank accounts, property, investments abroad) must be declared each year in the Quadro RW of your tax return, and IVIE/IVAFE wealth taxes may apply. People often miss this.
- Employees usually file the simple 730 return through a CAF (free or cheap tax help centres) or the pre-filled online version.
Opening a bank account
- Online banks open fastest and in English: Fineco, ING, N26, Revolut (EU IBANs work for salaries and direct debits by law, though some landlords still ask for an Italian IBAN).
- High-street banks (Intesa Sanpaolo, UniCredit, BPER, Banco BPM) suit mortgages and in-person help but charge monthly fees, often €5–15. Ask for a conto base or a promotional zero-fee account.
- BancoPosta at the post office is popular for paying bills and the permit kit.
- You need passport, codice fiscale, permit or receipt and proof of address. Banks also ask where your money comes from (anti-money-laundering forms); have payslips or a work contract ready.
- Bills are paid by direct debit (domiciliazione, SEPA), by pagoPA notices through your bank app or IO, or at tobacconists with a barcode.
The tax year at a glance
| When | What |
|---|---|
| March | Employer sends your CU (Certificazione Unica): last year's income and tax withheld. |
| From May | Pre-filled 730 appears on the Agenzia Entrate site. Check medical, rent and school deductions. |
| 30 September | Deadline for the 730 (via CAF, employer or online). Refunds or extra tax arrive in the July–September payslip. |
| 31 October | Deadline for Redditi PF, the full return needed for foreign income and the Quadro RW. |
| June · November | Instalments for self-employed and for IVAFE/IVIE on foreign assets. |
Keep receipts for medical costs, glasses, medicines (the scontrino parlante with your codice fiscale), gym for under-18s, school fees and rent: many give a 19% tax credit if paid by card or transfer. Agenzia Entrate in English ↗