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Ferrari owner Exor wants to build the Italian Y Combinator

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Re: Ferrari owner Exor wants to build the Italian Y Combinator

#141
post #29
post #26

Earlier quoted context omitted.

Depending on where you’re doing that and your nationality and fiscal residence, that might be illegal.

Surely not? Could you name a specific combination of those 3 factors that make it illegal?

Italy, being Italian, not being fiscally resident somewhere else for more than six months.

Esterovestizione is the specific term for that kind of fiscal crime.

Re: Ferrari owner Exor wants to build the Italian Y Combinator

#142
post #141
post #29

Earlier quoted context omitted.

Surely not? Could you name a specific combination of those 3 factors that make it illegal?

Italy, being Italian, not being fiscally resident somewhere else for more than six months. Esterovestizione is the specific term for that kind of fiscal crime.

Esterovestizione = "The fictitious location abroad of the residence of a person who lives or works in Italy, in order to enjoy a more advantageous tax regime."

Yes, that is fraud. But one can do it legally by not lying about ones residence and paying taxes locally. It's complicated, so accountants will love you, but it's not illegal as far as I know.

Re: Ferrari owner Exor wants to build the Italian Y Combinator

#143

Well the main issue in italy is not lack of funding or lack of talent but rather the amount of taxation companies had to go through and the uncertainty behind a big and complex legal system which makes an average of 8 years for civil processing . these two things alone and the fact there are better places in europe to make a startup (hint: netherlands, germany, france, czech republic, romania, poland) makes me wonder…

I don't think you are properly informed.

Italy is better than France, Germany, etc. [0]

Italy has other problems (labor law; IP law; etc), but I don't think that taxes are an issue.

[0]: https://taxfoundation.org/capital-gains-tax-rates-in-europe-...

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