Green light for the fiscal tightening on wealthy foreigners who transfer their residency to Italy. A decree approved by the Senate provides for the doubling of the substitute tax, which increases from €100,000 to €200,000 per year. The adjustment impacts a few thousand taxpayers. The Italian flat tax remains significantly less expensive than the other systems that have been implemented in Europe. Despite the increase, it remains a flat tax capable of attracting capital from abroad. The Renzi government implemented a flat-rate substitution tax in 2016 for individuals who moved their tax residence from outside to Italy. The purpose was to recruit investors. This optional preferential regime has been the subject of ample controversy, which has resulted in the government increasing the tax by twofold.