Originally Posted by katoom
While researching a different question I came upon a blog post from an expat tax filing service that has an interesting statement.
I cannot asses the validity of this as we are not yet residents nor have we needed to yet file an Italian tax return. The post is dated from 2012 and claims to have been updated in 2014. I do not know if I am allowed to post a link to the commercial site nor if I can supply the name of the tax service.
Are they referring to Italians living outside Italy? Non-Italians living within Italy? Or, dual-citizens residing in Italy?
I can tell you for sure, that Italy taxes the foreign-based assets of the last group. In other words, as a dual US/Italy citizen, if I become tax-resident in Italy (by virtue of spending more than 183 days there in a calendar year), I will owe a wealth tax on my cash and other assets (such as a home or other real property) that I continue to own in the US.