The return of human capital: tax incentives do work, according to Belluzzo

Camera dei Deputati, 14 October 2021

(ANSA)

“Incentives do help human capital return to Italy: many applications have been submitted to access the tax discount, which is substantial, since it goes from 70% up to 90% for those who settle in southern Italy and in the Islands after spending two years abroad. But the return of brains is not just a fiscal fact: conditions must be created for those who return to Italy and decide to stay and settle their wealth of knowledge, their human capital in the country. And this is done by creating a welcoming environment, with schools that are attractive. Tax incentives to return to Italy are important, but they are not the only driving force “.

This is what Alessandro Belluzzo, President of the Italian Chamber of Commerce and Industry for the UK stated in the press conference at Camera dei Deputati with Massimo Ungaro (Iv); on this occasion an assessment was made on the effectiveness of tax incentives for the return of “human capital”.

According to Belluzzo, the incentives work “and the result is evident: there has been a great demand and many cases of return, especially from England, both due to Brexit and the impact of the Covid pandemic. It is not just Italians. And we’re not just talking about football players, but about people who represent human capital. Those who have gained experience abroad must be able to return to our country and be able to stay there”.

In this regard, Belluzzo hopes that some benefits will be given to companies “when sending their employees abroad, who then return to work in Italy after having learned something new, even if it was just a foreign language”.