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Annuities from Unit linked policies and the Retirees Regime


By the Ruling n. 244/2021, the Italian Tax Authority has clarified that annuities from unit link policies cannot be considered as pensions or as annuities under Article 49(2)(a) of the Italian Tax Code. Indeed, unit linked policies does not have a pension purpose, but a financial one. For such a reason, annuities from unit link policies do not fall within the scope of the “Retirees” Regime, provided for by Art. 24-ter of the Italian Tax Code and reserved to individuals receiving a pension or an annuity from a foreign entity who relocate to Southern Italy.