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by pjc50 4490 days ago
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?

1 comments

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.