Overview

• French Prime Minister François Bayrou charged Italy with pursuing 'tax dumping' and fostering 'fiscal nomadism' in a televised interview.
• Italian Prime Minister Giorgia Meloni rejected the claim as completely unfounded and credited Italy's appeal to economic stability and credibility.
• The dispute centers on the 2016 'CR7-Norm,' now set at a €200,000 annual levy for up to 15 years on foreign income earners who relocate to Italy.
• Henley & Partners expects about 3,600 millionaires to move to Italy in 2025, many to Milan, where reports link the influx to steep property prices reaching up to €40,000 per square meter.
• Italy's Court of Auditors tallied roughly €315 million in revenue from 2020 to 2023, while the flare-up risks straining recent Franco–Italian rapprochement and coincides with Bayrou facing an imminent confidence vote that some reports say he could lose.