Italy says open to change planned 'exit tax' on the rich, after criticism

Rome: Italy is ready to consider changes to its exit tax on wealthy individuals leaving the country, Deputy Economy Minister Maurizio Leo told Reuters, after the proposed levy sparked criticism from tax experts and financial advisers.

Next year's budget announced last month envisages a 26% levy on capital gains of the wealthy who transfer their tax domicile abroad and hold financial investments worth at least €800,000 ($900,880.00).

"Italy is happy to consider proposals to improve the exit tax, we are always open to dialogue," Leo told Reuters, when asked about the possibility that the government might review the structure of the tax.