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The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate was Lit 1,936.27 to the euro. [13]
Taxes: Retirement income is subject to taxation in Italy, however, the rate is quite low, at just 7% flat on foreign pensions. Real Estate Restrictions: Expats can purchase property in Italy ...
During the period 1968–1972, the Italian State introduced retirement pensions and social pensions for every citizen over 65 years and under a certain income threshold. The extraordinary wage supplementation fund and early retirement were introduced along with tax relieves for the production. [1]
Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
When it comes to retirement planning, you want to ensure that you live in the most ideal place based on financial standards and quality of life. As a retiree, you'll want to find a location that
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