San Marino, a paradise (also fiscal) for cycling champions: the last one is Consonni from Bergamo
You want for the hills that perfectly lend themselves to racing and cycling training, or for the 7% taxes. Or, perhaps, both. The fact is that there are more and more two-wheel champions (cycling, but also Moto Gp) who ask to apply for and obtain residency in San Marino.
The last is the cyclist from Bergamo Simone Consonni, 27, originally from Brembate di Sopra, third in the eleventh stage of the last Giro d’Italia, but above all Olympic gold medal and world champion in team pursuit. Even before him, another Orobico road cyclist obtained the San Marino residence: the 26-year-old Lorenzo Rotaof the Intermarché-Wanty-Gobert Matériaux team, professional since 2016. Among the other well-known faces are cyclists Baroncini And Luckyand the pilots Aeneas Bastianini and Tatsuki Suzuki.
The law “atypical residence with a subsidized tax regime”, approved in December 2020 and entered into force last June, has attracted the attention of many sportsmen. The residence reserves a favorable tax treatment for foreign incomes of people residing in San Marino and who independently provide for their own health care, as well as having a contract for the purchase of a property or preliminary renting it.
The rule is advantageous because it provides that a tax of 7% is due on income produced abroad with a minimum amount of 10 thousand euros and a maximum of 100 thousand; tax that replaces the general tax on the income of individuals.
“These sportsmen – explained the Secretary of State for Sport of San Marino, Teodoro Lonfernini – they were not in a tax haven, as the agreements in force with Italy show. Theirs are real residences and not fictional. Cyclists in particular have chosen us because this is a safe and peaceful territory. And if there is also a tax advantage, why not? “.
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