[riffraff]

as an italian and fellow southern european, this has been true for a long time here too.

So now they added a new 20% tax on private bank transfers from UK bank accounts to italian ones.

Just saying: be wary if your government gets inspired.

[kybernetyk]

This is even true for Germany. To form a GmbH here you need to invest at least 25.000 Euros and wait weeks until the paper work gets done.

In the UK you can get a Ltd. up and running within 24 Hours for what is essentially pocket change.

The UK has exceptionally friendly laws and regulations concerning doing business and I wish more European countries would imitate them.

[Luc]

> This is even true for Germany. To form a GmbH here you need to invest at least 25.000 Euros and wait weeks until the paper work gets done.

You only need to pay in half of that though (until your GmbH goes bust with debts, that is). And since 2008 there's a mini-GmbH for 1 euro: https://de.wikipedia.org/wiki/Unternehmergesellschaft_%28haf...

[_delirium]

Things are slowly moving online in Europe, I think, though at varying speeds. In Denmark, you can now form an ApS in about a day, entirely online, without visiting any offices. It's a fairly simple web-form. For a traditional ApS you do need €6.500 in starting capital to incorporate (not a fee, just starting capital for the company's bank account). Options for covering that include state-subsidized loans, and as of the beginning of this year, a transitional form (Iværksætterselskaber), which can incorporate before raising the minimum capital, and then comes up with it later by diverting 25% of profits to the capital reserve until the €6500 threshold is met.

If you just want a registered business and VAT ID but don't need the corporate form, on the other hand, you can do that part for about 100 euros and an even shorter webform.

[cabalamat]

> So now they added a new 20% tax on private bank transfers from UK bank accounts to italian ones.

Isn't that against EU laws on freedom of movement of currency?

[riffraff]

the thing is more nuanced: it is assumed you are evading taxes/laundering money and need to prove otherwise. If you can prove this money is not untaxed income, than you're fine.

Yes, the duty of proof is opposed to the normal (you need to prove you are innocent).

[pjc50]

20% tax on private bank transfers from UK bank accounts to italian ones

How is this legal under EU law of free movement of capital?

[pjc50]

Addendum: this appears to be somewhat true:

via http://www.zerohedge.com/news/2014-02-16/money-launderer-unt... original italian news http://www.ilsole24ore.com/art/notizie/2014-02-13/ritenuta-a...

It's a presumption that the transfer is taxable income and a requirement to demonstrate otherwise. That's a very heavy tax enforcement process, but in theory you can get the 20% back if it's not income. If it is income, you should have paid the 20% anyway.

[aragot]

Come to France.

You file on the web. You declare your monthly income and pay 24.5% tax, all inclusive of your income taxes. Even if you make no turnover the first months, you benefit fromthe health insurance, and you could even get the €400 survival allowance ("RSA"). If you reach 30k€/yr, you must file a proper company and you'll get the normal 75% tax rate.

I think we have a good system to let people start companies. Website is ugly and we live at the Cobol & Paper age, but we got this little part right. That was brought by Sarkozy.

[fennecfoxen]

> If you reach 30k€/yr, you must file a proper company and you'll get the normal 75% tax rate.

Ow.

[aragot]

I counted all inclusive, such as your health insurance, retirement, unemployment insurance, income tax, company tax. Wouldnt be surprised if the same level of coverage would bring the same fees anywhere else.

[PeterisP]

Do you really need to transfer much money to an Italian account?

There is no particular need to have a 'local' account - you can pay all your bills with EU/SEPA payments from any european bank, the prices/etc will be the same, and you can do your daily purchases with a non-local card just as well.