Only 5% fee for cross-border workers who have worked in Montecarlo
Italian cross-border workers who earned their retirement by working in the Principality of Monaco rejoice. An amendment to the Maneuver approved by the Budget Committee provides that from 2023 the taxation of pensions received by frontier workers in the Principality of Monaco will be set at 5%.
«From 1 January 2023 – it reads – sums, whenever paid, for disability, old-age and survivors’ insurance, the management of the occupational pension for old-age, survivors and Monegasque disability, including benefits paid by institutions or pre-reform institutions (caisse sociale) of the Principality of Monaco, also accumulated on the basis of social security contributions taxed at source in the Principality of Monaco and paid in any form and title, received by resident subjects without intervention in the payment by Italian financial intermediaries are subject to taxation substituting income tax at the rate of 5 per cent».
The change would have been supported by the governor of Liguria, Giovanni Toti.
Source: IL Tempo
Emma Fitzgerald is an accomplished political journalist and author at The Nation View. With a background in political science and international relations, she has a deep understanding of the political landscape and the forces that shape it.
