The New Expatriate Regime, introduced with Legislative Decree 209/2023, redesigns the tax benefits for workers and professionals who transfer their tax residence to Italy starting in 2024. The goal is to attract qualified human capital, encouraging the return of Italian professionals and the entry of highly specialized foreign workers. The regime provides a 50% reduction in taxable income for income from employment, similar work, or self-employment earned in Italy up to an annual limit of €600,000. If you have minor children or if they are born/adopted during the eligible period, the tax benefit can increase to a 60% tax exemption. The benefit applies for five years. To benefit from the regime, you must: transfer your tax residence to Italy; not have been a tax resident in Italy for the three previous tax periods (if the employee previously worked for the same employer or group abroad, a longer period of residence abroad is required before returning, 6 or 7 years depending on the case); commit to residing in Italy for at least four years; carry out your work primarily in Italy; and possess a high level of qualification or specialization. The regime is ideal for Italian professionals returning from abroad, managers and executives relocating to Italy, highly qualified workers, teachers and researchers (with a dedicated regime); and smart workers relocating to Italy. The benefit lapses if the minimum residence requirement is not met, the requirements are no longer met, or the employee relocates abroad before the four-year period.