Natural persons residing in Campione d’Italia, enjoy a double set of tax breaks: for indirect and direct taxes.

For indirect taxes, and in particular for VAT (Value Added Tax), a citizen

of Campione acts on the basis of an extra-territorial system. In fact, according to art. 7 of the Italian Presidential Decree N. 633/72 and following modifications, the territory of Campione d’Italia is considered to be non-EU with regards to tax. Therefore exportations towards Campione and services carried out by residents of Campione are invoiced “outside the scope of VAT”.

For direct taxes, and particularly relating to IRPEF (personal income tax), in accordance with art. 188 bis of the Consolidating Act of Personal Income Tax, the citizens of Campione d’Italia may invoice their services in Swiss Francs.  For fiscal reasons, they enjoy a conventional exchange on easy terms fixed on the basis of the market exchange with a 20% reduction. The essential conditions in order to apply for tax breaks are: residence and income, that must not exceed 200.000 Swiss Francs per annum.

Tax returns are drawn up converting Swiss francs declared in Euros with this exchange and then paying taxes due  normally in Euros, with obvious advantages on tax savings due to a lower tax bracket. No tax break is provided for Companies with headquarters in Campione.