San Marino, the tax haven of champions – Chronicle
San Marino, 2 January 2022 – Many already credit the tax haven of champions. The small state of San Marino called the sports stars together with a law approved in December 2020 and then amended in June this year. It is called ‘atypical residence with a subsidized tax regime’. And many champions have already responded, especially from cycling. In 2021 that we have just greeted there are 18 – and among them as many as 16 are cyclists – the sportsmen who have obtained and obtained residency in San Marino. There are the riders Enea Bastianini, from Rimini, Moto2 world champion in 2020, and the Japanese Tatsuki Suzuki who races in Moto3. there is…
San Marino, January 2, 2022 – Many already require the tax haven of champions. The small state of San Marino has called the sports stars together with a law passed in December 2020 and then amended in June of this year. Is called atypical residence a subsidized tax regime ‘. And many champions have already answered, especially cycling. In 2021 that we have just greeted there are 18 – and among them as many as 16 are cyclists – the sportsmen who have obtained and obtained residency in San Marino. There are pilots Enea Bastianini, from Rimini, Moto2 world champion in 2020, and the Japanese Tatsuki Suzuki racing in Moto3.
There is the rising star of cycling, Ravenna Filippo Baroncini who in 2021 became world champion in the Under 23 online race, and in the same year won a stage at the Giro d’Italia Under 23 and the silver medal in the Under 23 online race at the European Championships in Trento. But also Damiano Caruso, revelation of the last Giro d’Italia, capable of the Corsa rosa in second place, behind the Colombian Egan Bernal. The list of sportsmen who have obtained residency in the small Republic of the Titan also includes Giulio Cicconand, Vincenzo Albanese, Leonardo Basso, Nicola Conci, Alexander Konychev, Simone Velasco, Matteo Malucelli, Lorenzo Rota, Giovanni Carboni, Matteo Fabbro, Jonathan Canaveral Vargas, Kevin Manuel Rivera Serrano, Lorenzo Fortunato and Manuele Boaro. all professional cyclists.
The residence reserves a favorable right to foreign income of persons who find for the first time to reside in San Marino, and what tax treatment to provide independently to their own health care. In addition to having a preliminary contract or promise to purchase buildings or a preliminary rental contract in hand. The law provides that on income produced abroad a tax of 7% is due to the small Republic with a minimum amount of 10,000 euros and a maximum of 100,000 for each fiscal year of the period of validity of the residence. Tax that replaces the general tax on personal income.
In San Marino the tax haven label cost a lot until not too many years ago. That’s why hearing about it creates a lot of stomach ache. “But we prefer to be the paradise of champions, of sports stars – he says the Secretary of State for Sport of San Marino, Teodoro Lonfernini – that the paradise of every unmentionable subject who saw our system attractive for the worst things that are now fortunately a distant memory. These are real residences, not fictional. And taxation is not the main spirit that moved that law. A transparent law, in full compliance with territorial integration. The agreements in force with neighboring Italy are truly a guarantee of transparency “.
Why so many cyclists? “Why find territorial areas – explains the minister – that could be suitable for investments. They choose a safe and peaceful territory. When they are not around the world these sportsmen live our community. And if there is also a tax advantage, why not. But they did not come to San Marino in search of a tax haven. Bastianini? Enea has had a group of friends in San Marino for a lifetime and now he has made a choice of life “.
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