Money, Taxes and Daily Life in Italy

Life in Italy quickly runs into money, taxes and daily life: what tax to pay on income from a Partita IVA, how much goes on INPS pension contributions, whether you are even considered a tax resident, which bank will open an account for someone with a Russian passport, and how to legally bring euro into it on top of that. This is not legal advice, but a section overview based on community experience, drawing on official Italian sources.

All the figures here are what community members report, and they depend on the year, region, activity code (ATECO) and your specific situation. Rates, limits and fees change, so always verify any amount on the official website and with a licensed accountant (commercialista). On tax questions the community keeps repeating the same thing over and over: a professional must calculate your specific case, because the different answers people get are not due to bad accountants but due to different starting data.

Where to start in this section?

The section answers a newcomer's main money questions in Italy and leads into the detailed articles.

Taxes

• Regime forfettario: rates and INPS - the simplified regime for the self-employed: the ATECO coefficient, rates, INPS contributions, income for the permit renewal.
• Taxes in Italy: IRPEF, IVA, deductions - the ordinary regime: the progressive scale, addizionali, IVA and how it differs from forfettario.
• Tax deductions: 730 and medical costs - how to get part of the tax back for medical costs, children, a mortgage and renovation, and which documents to keep.
• Tax return: 730 or Redditi PF - who files which form, deadlines, acconto and payment via F24.
• Impatriati regime: who qualifies - the relief for relocated workers and a comparison with forfettario.
• Flat tax for neo-residenti - the fixed tax on foreign income for wealthy newcomers.
• Commercialista: how much it costs - when an accountant is really needed and the price ranges the community cites.
• Crypto taxes: plusvalenze and Quadro RW - tax on crypto assets and a resident's declaration of foreign accounts.
• Remote work for a Russian company - residency, worldwide income, the suspended tax treaty and why a Russian salary does not save the permesso.

Benefits and allowances

• ISEE and DSU - the income certificate that benefits depend on, and how to file the DSU on the INPS portal.
• Bonuses and benefits by ISEE - discounts on utilities, nursery, housing deductions and other agevolazioni.
• Benefits for permesso holders - assegno unico, bonus nido, NASpI, ADI: which permit gives the entitlement and where to apply.
• Assegno sociale for foreigners - the allowance from age 67 and the ruler used to compute income thresholds for permits.
• Canone RAI: how to opt out - the TV fee in the electricity bill and the exemption declaration when you have no television.

Bank, cash and transfers

• A bank in Italy for a non-resident - which banks open an account for permit holders, documents, blocks and legal routes to bring in euro.
• An account for Russian and Belarusian citizens - the right to a conto di base, typical refusals and what to do under sanctions.
• Which bank will open an account for a Russian - who opens on the ricevuta and without residenza, account fees per the community.
• Revolut and Wise in Italy - neobanks as a bridge to an Italian account and where their IBAN is not accepted (F24, rent).
• Cash: limits and currency exchange - the border declaration, the payment limit, cambio and which cards withdraw euro.
• Sending money from Russia to Italy in 2026 - what reaches an Italian account (SWIFT, CIS bank cards, crypto, cash), the EUR 100,000 cap and source of funds.
• Moving money out of Russia: CBR limits and cash - the Russian side: Bank of Russia rules for 2026, notifying the tax service of a foreign account, cash up to USD 10,000.

Pension and mortgage

• Pension in Italy: INPS and the record - age, contribution record and why the Russian record does not count.
• Russian pension while living in Italy - payment abroad and the proof-of-life certificate.
• Mortgage for foreigners: mutuo - who gets a mutuo with a permit, the down payment and documents.

Newcomers almost always confuse two things: having a permesso and how taxes are demanded of you. The document itself legalizes your stay and remote work, but tax obligations grow not out of it but out of real life - where you actually live, where and by what means income trickles in, what paperwork covers it. First describe this reality to yourself soberly, and only then come to an accountant with it.

Will I become a tax resident of Italy?

This is the first money-and-tax question worth settling, because it determines from what income you will have to pay at all. Italy taxes a tax resident on worldwide income - on receipts from any country; for a non-resident only what is earned in Italy itself falls under tax. The main tax authority is the Agenzia delle Entrate, the tax year coincides with the calendar year, and the return for the previous year is filed in the current one.

You are treated as a resident (under the rules of art. 2 TUIR, from 01.01.2027 art. 2 D.Lgs. 117/2026) if at least one of the following conditions is met for most of the year: you actually spent 183 days or more in the country; your centre of vital interests is here (family, children started school, your main home and business); or you registered your residenza at your place of residence. A separate myth from the chats is that "if I did not live 183 days, Italy does not concern me": in practice they look more broadly, and a registered residence permit already creates a presumption of residency, with the burden of proving otherwise falling on you.

For the first year I recommend keeping a simple presence diary: entry and exit dates, boarding passes, card receipts - they also record where you physically were. If a dispute about residency later arises, these are your evidence, and collecting them after the fact is almost impossible.

Where exactly you are registered affects not only your status but also daily life: the regional and municipal surcharges on income tax differ, and the switch to the rates of a new region happens from the year following the change of residenza. The steps for registering your residence and tax number are covered in the article about codice fiscale and residenza.

Forfettario or the ordinary regime: what should the self-employed choose?

For a self-employed person with a Partita IVA there are two paths: the preferential regime forfettario (simplified, with a reduced rate and tax base via a fixed profitability coefficient) and the ordinary regime with a progressive IRPEF scale and VAT. According to the community, forfettario more often suits a newcomer with a digital profession and a small turnover, but this is not a universal rule: with high real expenses or working with Italian business under VAT, the ordinary regime is sometimes more advantageous. All the details - rates, coefficient, turnover limit, restrictions - are in the article about forfettario and INPS.

It is convenient to estimate income, the simplified tax and INPS contributions for your case in the calculator:

An accountant works strictly from the data you bring. That is why the choice of regime needs to be settled in advance, already at the Partita IVA registration stage: later much of it - including the rate itself - cannot be reversed. Take a copy of the registration module for yourself and then check every line through your profile on the Agenzia delle Entrate portal.

A separate money topic, closely tied to taxes, is what income to show in order to get a visa and then renew the residence permit. The thresholds and confirmation are covered in the guide income for a D visa and renewal, and it is also useful to read the step-by-step lavoro autonomo path, where taxes and contributions are shown in the context of the whole route.

Where will they open an account and how do I bring in euro?

Without a bank account in Italy you cannot pay rent, taxes via the F24 form, or utilities. The difficulty is that for a Russian passport holder one branch opens an account calmly while another refuses without explanation - a detailed breakdown of banks, documents and blocks is in the article about account and money transfers. The same article covers the legal routes to bring in euro under sanctions, when a direct transfer from a Russian bank effectively does not work.

The main rule they repeated to me at the bank: the origin of the money must be explainable. Any noticeable incoming amount, especially a regular one, the bank can query and pass on to the tax office. So keep your documents on the source of funds ready and do not count on the question simply going away without consequences.

If you do not yet have residenza, in some places you can open a separate account for a non-resident (conto per non residenti). But in my experience it is more expensive than a regular one - a higher monthly fee and sometimes a separate closing fee. On the other hand, you can later convert it at the same bank into a resident account as soon as you get registered. The figures vary everywhere, check on the spot.

The community insistently warns: transfers, especially recurring ones, the Italian bank sees, and under AML rules it can ask for explanations or pass the information on. At the same time, per the community, there is currently no automatic exchange of tax data between Russia and Italy - the double taxation treaty has been suspended since August 2023 (decree N 585 of 08.08.2023), the credit is not automatic - but do not build a strategy on that: a resident declares foreign accounts and income on their own, and the treaty's status can change. Large sums in cash will not get through in Italy - there is a cash payment limit and an obligation to declare the import of large amounts of cash into the EU. If money arrives into a foreign wallet with an Italian IBAN, sooner or later you will most likely receive an official request from the tax office asking you to explain the origin of these sums. More in the articles on banking and money transfers and remote work for a Russian company; this is not tax advice, verify the current details.

A separate practical trap from the chats: you need an account not only "for living" but also to pay taxes via the F24 form, and it is not accepted from just any IBAN. According to the community, the tax office debits F24 only from banks on the official list of connected ones (convenzionate), and the IBAN of a number of online banks is not on it. So already at the account-choosing stage check whether F24 payment goes through it - otherwise you will have to open a second account specifically for taxes. See the list of banks and the current conditions on agenziaentrate.gov.it.

A common newcomer mistake is to open a convenient neobank and only at the payment deadline discover that the tax office does not accept F24 from its IBAN. I advise keeping at least one account at a bank from the list connected to F24: let it not be your main one, but it is from there that advance payments and top-ups on taxes and contributions go calmly. Verify the current list on the tax office's website.

What else about daily life and taxes is important to know?

A few money topics that come up for almost everyone:

• Returns and deadlines. Employees file the 730 form, the self-employed and those with foreign income, accounts or property file the Redditi PF; advance payments on tax and contributions fall in the middle and at the end of the year. Keep the specific dates and forms verified on agenziaentrate.gov.it.
• ISEE. This is an income certificate on which benefits depend: a place in nursery, payment for schooling and university, child benefits, as well as reduced tariffs for electricity and water. It is sensible to arrange it as early as possible in the year.
• CAF as an inexpensive alternative. The state CAF centres help with ISEE, the 730 form and basic questions noticeably cheaper than a private accountant; for simple cases this is enough.
• Everyday taxes. The RAI tax is built into the electricity bill, and in the absence of a television you arrange an official exemption (via a separate declaration through the Agenzia delle Entrate). According to the community, the fee concerns only devices capable of receiving a TV signal: a laptop, PC, tablet and smartphone do not fall under it, even if people watch online on them. Another nuance from the chats: if flatmates receive separate electricity bills, you do not need to pay RAI twice - in the declaration you indicate who already pays it. For tenants the cedolare secca regime at the owner's end is advantageous - it freezes the annual rent increase, and according to the community under it you do not need to pay the tax for registering the contract (but this must be written into the contract itself). Amounts and conditions change - verify the current details.
• Foreign assets. A tax resident declares foreign accounts, property and crypto-assets; according to the community it is wiser to show them in the very first return than to later run into noticeable penalties when the omission surfaces.

It is important not to confuse savings and income. Money you already had before the move is your resources, not income for the Italian year, and it is declared differently. But if such a sum lands in your account, the bank may ask about the source, and then an income return for previous years from the country the money comes from helps out. I assembled a folder of such certificates in advance - it is easier to collect them once than to explain after the fact.

Do not chase the single correct answer in a chat - everyone has different inputs. If the question is about money and the cost of a mistake is high, take a paid consultation: a couple of hundred euro now saves much larger sums over the following years. It pays off almost always.

The figures on taxes, banks and fees are volatile: calculate your specific case with an accountant and verify the current details on the official websites. This is not financial or legal advice.

Related articles

• Taxes for the self-employed: forfettario and INPS - regime, rates, contributions, double taxation.
• A bank in Italy and money transfers - an account for a residence-permit holder, sanctions, blocks.
• What income to show for a D visa and renewal - thresholds and confirmation.
• The step-by-step lavoro autonomo path - taxes and contributions in the context of the route.
• Codice fiscale and residenza - the tax number and registration.
• Healthcare in Italy: SSN and tessera sanitaria - how contributions and residenza are tied to healthcare.

Not sure which residence-permit basis is yours? Take the route matcher, and to assess the stages and timeframes the timeline will help.

Official sources

• Taxes, codice fiscale, returns: agenziaentrate.gov.it
• INPS social and pension contributions: inps.it
• Italian Ministry of the Interior and immigration: interno.gov.it, portaleimmigrazione.it
• D visas and the list of documents: vistoperitalia.esteri.it
• Digital identity for online accounts: spid.gov.it

Frequently asked questions

From what moment do I become a tax resident of Italy?

According to the community, you are treated as a resident if you spent most of the year in Italy (the threshold is 183 days), or your centre of vital interests is here (family, children in school, your main home and business), or you registered your residenza at your place of residence. Any one of these conditions is enough. An important nuance from the chats: a residence permit by itself does not switch taxes on, but it creates a presumption, and the burden of proving otherwise falls on you. Check with a commercialista - this is not legal advice.

How much tax does a self-employed person on a Partita IVA pay?

According to the community, the main burden is not the simplified tax of a few percent itself, but the INPS pension and social contributions (according to the community, around a quarter of the tax base). The exact amount depends on the ATECO code, turnover and family composition, so an accountant should do the calculation. The details are in the article about forfettario and INPS, and the current rates are on agenziaentrate.gov.it and inps.it. This is not legal advice.

Can I open an account at an Italian bank with a Russian passport?

According to the community yes, but not everywhere and not always quickly: one branch opens an account for a residence-permit holder without questions, another refuses without explanation, sometimes even within the same bank in different cities. Your chances are higher with a Carta d'Identita, a permesso and a codice fiscale in hand. A detailed breakdown is in the article about banking and transferring money. This is not legal advice.

Does the double-taxation treaty with Russia work?

According to the community, Russia suspended the key articles of the treaty in August 2023 (decree N 585 of 08.08.2023) rather than formally withdrawing from it. In practice the credit of Russian tax is not automatic, there is no automatic exchange of tax data between the countries either, and you need to be ready to justify the receipts coming into your account. Verify the current status and calculate with an accountant - this is not legal advice.

Is it mandatory to hire a commercialista, or can it be cheaper?

According to the community, for a Partita IVA, returns with a rate and foreign income it is more sensible to have an accountant or an online service, because a mistake in the return later costs more than their services. For simple cases (ISEE, the 730 form for an employee) the state CAF centres help out - noticeably cheaper. Prices change, verify the current details. This is not legal advice.

From which account do I pay taxes via F24?

According to the community there is an important nuance: taxes via the F24 form are not debited from just any account. The IBAN of many online banks (according to the community, for example Revolut) is not accepted by the tax office for F24 - you need a bank from the list of connected ones on agenziaentrate.gov.it (the chats name ING, Isybank, Unicredit, as well as payment via Poste). So when choosing an account, check straight away whether F24 payment goes through it. This is not legal advice.

Related materials - Money, taxes and daily life

• Regime forfettario 2026: rates and INPS
• Italian bank account for a non-resident
• Working for a Russian firm from Italy: taxes
• Tax deductions in Italy: 730, medical costs

Next stepIncome & tax calculatorIs your income enough for the permit? Compare to the threshold and estimate forfettario tax + INPS.

Documents for this topic

• Certificate of Tax Residency in Italy (Attestato di Residenza Fiscale - Agenzia delle Entrate)
• Mod. APR/4 and APR057: residenza change checklist
• Declaration of exemption from television fee (Agenzia delle Entrate)