Can you have dual Canadian and Italian citizenship?

Canada and Italy accept dual (and multiple) citizenship. You will not lose your Canadian citizenship if you apply for Italian (or any other) citizenship. If you are a citizen of other countries as well, please verify with their Embassy how acquiring other citizenships may affect your rights and responsibilities.

Do Italian dual citizens pay taxes in both countries?

Do Dual Citizens Have to Pay Taxes in Italy? The short answer is that you have to pay taxes in Italy only if you are actually living there over 183 days of the year. To be eligible for paying taxes as a dual citizen, you need to spend at least 183 days a year in Italy, or own assets situated in that country.

Are there drawbacks to Italian dual citizenship?

Since there are practically no drawbacks to obtaining Italian dual citizenship, it’s more practical to discuss the benefits of obtaining an Italian passport.

Does Italy recognize dual citizenship?

Yes. Italy passed a law in 1992 allowing those of Italian descent to lawfully obtain dual citizenship. Italy requires you to prove your Italian ancestry and apply for citizenship through your local Italian consulate. Italy does not require you to renounce your current citizenship(s) when claiming dual citizenship.

Does Italy tax retirement income?

As you might already know, Italian tax residents are required to pay tax on their worldwide income. Therefore, if you are residing in Italy for 3 months or less, you are not deemed as a tax resident, thus you do not have to worry about paying taxes on your American pension in Italy.

Do you have to pay taxes in both countries with dual citizenship?

For individuals who are dual citizens of the U.S. and another country, the U.S. imposes taxes on its citizens for income earned anywhere in the world. If you are living in your country of dual residence that is not the U.S., you may owe taxes both to the U.S. government and to the country where the income was earned.

Do Canadian dual citizens pay taxes in both countries?

Yes, if you are a citizen or resident alien of the United States, you have a U.S. tax obligation, even if you’re a dual citizen of the U.S. and Canada. The U.S. is one of two countries in the world that taxes based on citizenship, not place of residency. Canadian taxes follow a January to December tax year.

Does Italy tax foreign retirement income?

To attract more pensioners, Italy introduced in 2019 a new tax regime. It consists of a 7% flat tax rate on all foreign sourced income. In addition to that, you do not have to disclose your foreign held assets and you do not pay any wealth tax.

How are pensions taxed in Italy?

As a general rule, pensions paid to persons not resident in the Italian State, by resident institutions or by permanent establishments in Italy are taxable in Italy. Non-residents required to submit their tax return in Italy must use the Personal Income Form.

Do dual citizens need to pay taxes in both countries?

Do dual citizens pay taxes for both countries?

Dual citizens must obey the laws of both of the countries they are citizens of, including tax laws. For American dual citizens, this means that they are subject to United States taxation of all US citizens’ global income.

Can I live in Canada with dual citizenship?

Every country decides whom it considers to be a citizen. If more than one country recognizes you as a citizen, you have dual citizenship. Canadians are allowed to take foreign citizenship while keeping their Canadian citizenship.